Business
Final Results
Final Results.
About this update from Grainger Plc
[{"type":"text","content":"\n\n \n22 November 2023\n \nGrainger plc\n \nFull year financial results\nfor the twelve months ended 30 September 2023\n \nAn outstanding year of record delivery\nand an excellent outlook\n§ Delivering 1,640 new homes in 2023\n§ Net Rental Income up +12%\n§ EPRA Earnings up +41%\n§ Total dividend per share up +11%\n§ Adjusted Earnings up +4%\n§ Like-for-like PRS rental growth up +8.0%\n§ EPRA NTA resilient at 305pps\n§ Customer NPS up 26% to +43pts\n§ Doubling post tax EPRA earnings from FY22 in next 3 years\n \n \nGrainger plc, the UK's largest listed residential landlord and leader in the build-to-rent sector, today announces an outstanding year of record delivery and a strong performance for the 12 months ended 30 September 2023. Grainger has a £3.3bn operational portfolio of 10,208 private rental homes and a £1.6bn, 5,634-home build-to-rent pipeline.\nHelen Gordon, Chief Executive, said:\n\"It is with great pleasure that I can report an outstanding year of record delivery and a strong performance for Grainger, growing net rental income strongly and enabling us to increase our dividend to our shareholders by 11%, while improving the rental experience for our growing number of customers. \n \n\"We are now delivering our pipeline at pace and are set to deliver market-leading earnings growth, a culmination of years of planning and implementation since setting out the Company strategy in 2016. We have delivered c.1,200 new build-to-rent homes and are scheduled to deliver a further c.400 by the end of the calendar year. This year, we have exceeded more than £100m of annual net rental income on a passing basis, which is more than three times what it was at the start of the strategy. We now own and operate more than 10,000 rental homes nationally and this is set to grow significantly over the coming years. Our PRS portfolio now represents 77% of our operational portfolio by value. \n \n\"In the next three years, post-tax EPRA earnings will double compared to last year, as we deliver our fully-funded committed pipeline.\n \n\"Despite the macro-economic turbulence which marked the beginning of our financial year, the Grainger business has performed exceptionally well. This performance has been delivered by our market-leading operating platform, robust balance sheet and disciplin...