Assura delivers "strong trading performance" before delisting

(Alliance News) - Assura PLC said on Tuesday it had delivered "strong trading performance" for the first half of its financial year.

In a trading update, the Altrincham, England-based care property investor and developer reported a 5.6% like-for-like increase on GBP25.5 million of rent roll reviewed for the six months ending September 30.

Assura is now owned by Primary Health Properties PLC.

The first-half rent reviews weighted average annual uplift was 2.9%, Assura said.

"I am proud to report on a strong trading performance over the first six months of the financial year, in what was a period of uncertainty for the business," Assura Chief Executive Officer Jonathan Murphy said.

"We have delivered strong rental growth, which has flowed into the positive property valuation uplift, and have continued to identify opportunities to deliver new healthcare developments for both the NHS and independent sector," said Murphy, referencing the UK's National Health Service.

Assura said it "attractive" development pipeline of opportunities amounting to GBP250 million is capable of commencing in the next two years.

Assura expects its shares to be suspended from trading on the Johannesburg Stock Exchange on Friday before being delisted on October 23.

It expects the delisting from the London Stock Exchange to take effect no earlier than 0730 BST on Monday next week.

By Artwell Dlamini, Alliance News senior reporter South Africa

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