19th Nov 2015 10:20
LONDON (Alliance News) - Assura PLC Thursday reported a rise in pretax profit for its first half, boosted by valuation gains in relation to properties it acquired during the period.
The healthcare property investor and developer reported a pretax profit of GBP35.4 million for the half year to end-September, up from GBP16.5 million a year before, as a rise in gross rental and related income to GBP29.4 million from GBP23.6 was boosted by GBP25.7 million in revaluation gains.
Assura said that its acquisition programme had resulted in a GBP100 million increase in investment property, taking the total value of its investment property to GBP1.03 billion, up from GBP925.3 million as at the end of March.
It saw a 5.5% rise in diluted net asset value per share to 46.4 pence from 44.0 pence during the half year.
"The need for increased investment in high quality GP space is immediate: There has been years of underinvestment in the primary care market, and in a recent survey 40% of GPs considered their premises to be inadequate for their services. The need for increased investment is also growing fast: in 25 years' time the population of those over 75 years old is set to have increased by 90%, and GPs will play a critical role in managing the health needs of this ageing population. Assura, as the leader in the sector, is well placed to help meet this demand," said Chief Executive Graham Roberts in a statement.
Shares in Assura were down 0.9% at 54.75 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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