22nd Nov 2022 09:42
(Alliance News) - Assura PLC on Tuesday reported a higher first-half net rental income, but profit fell on a property revaluation loss.
The Warrington, England-based property firm said net rental income rose 15% year-on-year to GBP70.0 million in the six months to September 30, from GBP61.1 million.
"We see growing and consistent demand for high-quality community healthcare buildings that is not linked to the economic cycle. The need to invest in primary care has widespread cross-party political support - given it is cheaper for the NHS to deliver services in this setting and as pressure on hospital resources becomes increasingly unsustainable," said Chief Executive Officer Jonathan Murphy.
Assura said pretax profit plunged 55% to GBP30.9 million from GBP69.3 million. The firm said this reflects a GBP19.0 million hit from valuation movements, swinging from a gain of GBP28.1 million.
Nevertheless, Assura upped its dividend to 1.52 pence per share from 1.45p.
Looking ahead, the property investor said it is "well-placed" to deliver attractive returns for shareholders over the long term. CEO Murphy added: "The NHS has put in place ambitious targets to become the world's first net zero carbon health system, but this is yet to filter down into plans for implementation and funding across the existing estate. Our role is to be an expert partner to bridge those gaps and share our learnings, always pushing the bar higher at our buildings, using our unique expertise and financial capacity to deliver for the NHS over the long-term."
Assura shares were 0.3% lower at 56.95 pence each in London on Tuesday morning.
By Tom Budszus; [email protected]
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