Primary Health Company Research (PHP)

Primary Health Properties (PHP) reported strong earnings for FY25 and provided a confident outlook, underpinning a further (3%) increase in DPS, the 30th consecutive year of growth. The integration of Assura is running ahead of schedule, additional benefits have been identified and plans are well advanced to reduce leverage back to within the targeted range. PHP’s £6bn portfolio of critical healthcare real estate provides secure, long-term and growing income, in a demographically-driven, structurally supported sector, well-insulated from general economic uncertainty.