Assura annual profit climbs on higher rental income

Tue, 18th May 2021

Primary care property investor and developer Assura reported jump in annual profit as additions to its portfolio boosted net rental income. For the year ended 31 March 2021, pre-tax profit was up 37% to £108.3 million year-on-year as net rental income rose 8% to £112 million. Portfolio value increased 15% to £2,453 million and rent collections continued to be in line with normal patterns, the company said. Looking ahead, the company said it entered the new financial year with a 'strong' immediate pipeline. In development, we are on site at 16 schemes with a gross development spend of £72 million, an immediate pipeline of £111 million of development opportunities that are expected to commence within the next 12 months, and an extended pipeline of £222 million of further opportunities where Assura is the exclusive partner,' Assura said. 'Acquisition opportunities in legal hands total £46 million and we have £15 million of asset enhancement capital projects in the immediate pipeline,' it added. At 8:26am: (LON:AGR) Assura PLC share price was 0p at 76p Story provided by StockMarketWire.com

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