Writedowns of renewable energy projects in Australia and Europe contributed to an 80 per cent slump in first-half profit at John Laing Group.
The FTSE 250 infrastructure investor said pre-tax profit for the six months to the end of June was £35 million, down from £175 million a year earlier.
Low levels of wind in Europe led to a £55 million writedown of its European energy projects. In Australia it suffered £66 million of losses on three of its renewable energy projects as a result of industry transmission issues.
Writedowns of renewable energy projects in Australia and Europe contributed to an 80 per cent slump in first-half profit at John Laing Group.
The FTSE 250 infrastructure investor said pre-tax profit for the six months to the end of June was £35 million, down from £175 million a year earlier.
Low levels of wind in Europe led to a £55 million writedown of its European energy projects. In Australia it suffered £66 million of losses on three of its renewable energy projects as a result of industry transmission issues.
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