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(Alliance News) - Assura PLC on Thursday said it maintained a "strong track record" throughout the first three months of the year.
The Warrington, England-based care property investor and developer noted a strong record of activity in the first quarter of the year ending March 31, 2024, with a portfolio of 610 properties and an annualised rent roll of GBP145.3 million.
55 rent reviews were settled in the first quarter of the financial year, which generated an uplift of GBP600,000, Assura said.
The company also raised its quarterly dividend by 5.0% to 0.82 pence per share, a 5.0% increase from 0.78p per share a year before.
Looking ahead, Assura said it expects to spend around GBP11 million over the next two years on a pipeline of 17 capital enhancement projects. The company is also currently on site with nine developments, totalling a cost of GBP103 million. Assura also said its weighted average interest rate is unchanged from March at 2.3% and has a net debt of GBP1.44 billion on a fully unsecured basis with cash and undrawn facilities of GBP234 million.
Chief Executive Officer Jonathan Murphy said: "Our on-site activities progressed well, with two developments and one asset enhancement project reaching practical completion, providing high quality premises and enabling an improved range of health services for patients.
"We continue to see many opportunities to work with the National Health Service in providing critical primary care infrastructure. Our leading market position, strong and sustainable financial position and pipeline of growth opportunities will allow us to continue to deliver against our proven strategy."
Shares in Assura were down 1.6% at 45.64 pence each in London on Thursday morning.
By Sabrina Penty, Alliance News reporter
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