Shares in John Laing fell 5.5% to 277.5p last Thursday after it said that results from its Chiltern Rail business would be disappointing.

It added, however, that its core PFI/PPP portfolio continued to perform well. Equion, its PFI/PPP division, has reached financial close on a £319m schools project in South Lanarkshire.

Laing reported in the trading update that operational road and accommodation projects had done well and levels of bidding activity had increased.

It said that chief executive Adrian Ewer was set to implement plans to expand PFI opportunities.

Laing’s interim results will be announced on 24 August.