Half Yearly Report19 May 2011 08:56
RNS out this morning for half year report. Quite encouraging considering the climate.
Robin Broadhurst, Chairman of Grainger plc, commented:
"Grainger has made very significant progress in the first six months of this financial year and delivered a strong set of results. Key financial performance measures show strong improvement and a series of major transactions emphasise both our ambition and our ability to source and deliver well priced opportunities.
"General house prices have remained broadly stable over the last six months although liquidity and transaction volumes remain low. Grainger has continued to respond to this environment by rebalancing its portfolio to geographic locations where economic activity and therefore the potential for capital appreciation is higher.
We have also introduced additional and innovative sources of income which are less reliant on trading.
"We remain confident in the ability of our well located, cash generative portfolio to outperform the market."