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Assura posts strong prelims with a 9.5% rise in rental income

Assura updates on primary care portfolio

Assura, the healthcare property investor and developer, saw its net asset value (NAV) increase slightly to 53.5p and its portfolio value rise 3% in the six months to the end of September.

However, pre-tax profit fell 2.7% to £36.4m, despite a 9.5% rise in net rental income to £50.6m. The group posted a 7.7% increase in earnings per share to 1.4p, which covered the 1.4p per share dividend paid in the period.

The company completed 148 rent reviews in the six months, which saw its rent roll increase 1.7% to £104.4m.

Jonathan Murphy, chief executive of Assura, said: “We have again made good progress with our key operational metrics, reporting 10% growth in net rental income, maintaining our focus on asset enhancement, selective strategic acquisitions and disposals. Our pipeline is the strongest it has been in 10 years, enhanced by the acquisition of GPI, which has created fresh opportunities for Assura.

“The UK’s primary care infrastructure continues to be in immediate need of modernisation which will ease the significant strain on NHS services. We remain well-positioned to be the NHS’s partner of choice, bringing a long-term approach to both investing and developing with an unrivalled team, capital strength and quality of service.”

AGR : Assura posts strong prelims with a 9.5% rise in rental income

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