Laing shares lapped up after profit rise

SHARES in John Laing today leapt 8 3/4p to 201 3/4p, their highest since the group quit building to concentrate on Private Finance Initiative schemes.

Pre-tax profits were £21m in 2003 against a £14m loss last time.

With earnings per share at 3.1p, the full-year dividend is cut from 6.8p to 3p.