To me this looks like further cost cutting but with an eye on the cost of borrowing in future. I suspect like many companies they suspect the terms of future loans could be up and hence have sent a message to their lenders that there are alternative sources of money. Suspect time will show this to be a good move. Hopefully they have their eye on something.
7 Nov '13
Really pleased to see Grainger have got their debt under £1bn well ahead of schedule and by some margin. The house has very much been put in order this year and I would hope the continued rise of South East property prices will provide them with steady growth over the next 12 months. I will be holding, expecting slightly steadier growth this year. Much depends on finding some more exciting projects like Aldershot and the continued trimming of debt. Be interesting to see where the management see things heading as this company really have their finger on the pulse when it comes to the rental market. I like having a guess where the price is going but holding off to the markets digest Grainger.
7 Nov '13
Plum. Where do you see this heading? I want to try and go medium term.
9 Oct '13
Should be lots of good news out of Grainger results soon. Hoping to see they have got that debt under £1bn already as they have seemed fairly fixed on this figure for some time. Watching closely to gauge if they can maintain performance through 2014.
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