LONDON (dpa-AFX) - Grainger Plc. (GRI.L), a provider of private rental housing, reported a strong performance for the start of financial year. It reported occupancy in Private Rented Sector portfolio of 97%.
In its trading update for the first four months of its financial year to the end of January 2022, the company reported that total like-for-like rental growth was 3.2%. Rent collection remains strong at 98%.
Private Rented Sector like-for-like rental growth was 3.0%, in line with expectations of returning to the long-term trend of 3-3.5% this year and having remained positive throughout the pandemic.
The company's 1.9 billion pounds pipeline is expected to deliver growth in recurring earnings, as net rental income, by about 2.5 times over the medium term.
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