26th Nov 2013 14:06
LONDON (Alliance News) - Healthcare property investors Assura Group Limited Tuesday reported an increase in profit and revenue for the first-half, as it increased its dividend on an annual basis 49%.
The Warrington-based company posted pretax profit of GBP12.2 million for the period ended September 30, up from GBP5.7 million a year earlier, boosted by a "gain on sale of property" of GBP6.7 million, compared with GBP2.2 million in the last period.
Rental income rose 5.9% to GBP17.9 million, from GBP16.9 million in 2012, while adjusted European Public Real Estate Association (EPRA) net asset value per share climbed 4.4% to 40.3 pence from 38.6 pence at the end of March.
EPRA is the European Public Real Estate Association, the industry body for European REITs.
Total rental roll increased to GBP40.7 million, from GBP35.9 million in March.
During the period Assura acquired 32 medical centres in a GBP62.5 million deal to buy the Trinity Medical Properties and Trinity Medical Developments businesses from its owners Trinity.
The primary care property investor and developer said the portfolio has a rent roll of GBP4 million with a weighted average unexpired lease term of over 16 years.
The board declared an increase in the next quarterly dividend for the period to December 31, 2013 of 49% to 0.45 pence per share or 1.8 pence per share calculated on an annualised basis.
The stock was trading at 39.05 pence Tuesday afternoon, up 1.05 pence or 2.8%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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