Grainger PLC - Newcastle-based residential landlord - Pretax profit in year that ended September 30 rises 53% to GBP152.1 million from GBP99.1 million. Revenue is up 16% to GBP248.9 million from GBP214.0 million. EPRA net tangible assets per share advance 4.2% to 297 pence from 285p a year earlier. However, Grainger lowers payout 5.9% to 5.15p per share from 5.47p.
"I am pleased to report that your company is in a strong position and has continued to grow despite the challenges of the past year. The demand for our homes and the delivery of new schemes means our growth strategy has continued unabated. We delivered a record number of new homes and leased these swiftly whilst also recovering occupancy across our whole PRS portfolio," company says.
Current stock price: 316.60 pence, up 1.4% on Thursday
Year-to-date change: up 12%
By Eric Cunha; ericcunha@alliancenews.com
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Grainger plc (GRI)