17th Nov 2020 09:57
(Alliance News) - Assura PLC on Tuesday said first half profit jumped as the care property investor reported a rise in rental income.
In the six months to September 30, net rental income was 7.5% higher year-on-year to GBP54.4 million from GBP50.6 million. Assura's pretax profit jumped 20% to GBP43.8 million from GBP36.4 million.
The company diluted EPRA net tangible assets per share rose 4.3% to 56.2 pence from 53.9p at the end of March.
The profit jump reflected "higher net rental income following portfolio additions", Assura said.
Its rent roll at September 30 totalled GBP113.3 million, improved 4.0% from GBP108.9 million at the end of March.
"The first six months of the year was a period of significant activity across the group, reflecting Assura's ongoing resilience and strong market positioning," Chief Executive Officer Jonathan Murphy said.
"In the half year, we have delivered ahead of expectations. We made strong progress with developments, completing six schemes with a further 15 on site, and replenishing the pipeline. In addition, we closed 20 acquisitions, the pipeline is another GBP90 million and our asset enhancement activities continue to generate value."
Assura declared an unchanged interim dividend of 1.4p per share.
Assura shares were 1.3% higher at 76.90p each in London on Tuesday morning.
By Eric Cunha; [email protected]
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