Steve Lidgate: The Laing Homes Group is part of John Laing PLC, which is a quoted UK construction house builder and infrastructure company. The Group sold its construction interest at the beginning of this fiscal year. And therefore basically we are now a house building group, and an investment in PFI projects. PFI may be a little new and unusual for US investors. It is basically projects which are usually at the instigation of the UK authorities, but it is privately funded -- hospitals, roads and infrastructure. We are approximately eighteenth in the UK Housing League if you do it by volume. We are approximately eleventh if you do it by turnover. And we also have a 22.5% stake in a US housing business called WL Homes, which is based in California, Utah, Nevada, Colorado and Washington, D.C.
TWST: Is PFI synonymous with PPP?
Steve Lidgate: Yes. It is identical. PPP -- Private Public Partnership - is a political name. And PFI -- Public Finance initiative is a working name that the industry uses to identify what it is.
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