Business
Full Year Financial Results
Full Year Financial Results.
About this update from Grainger Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7440S\n Grainger PLC\n 18 November 2021\n \n \n \n \n 18 November 2021\n \n \n \n \n \n Grainger plc\n \n \n \n \n \n Full year financial results \n \n \n for the twelve months ended 30 September 2021\n \n \n \n \n \n \n \n \n Robust performance; a period of momentum and growth\n \n \n \n · \n Adjusted Earnings up +2% \n \n \n · \n Profit before tax up +53%\n \n \n · \n Like-for-like rental growth of +1.0%\n \n \n · \n Occupancy of 94% in PRS portfolio by September, now 95% \n \n \n · \n Passing net rental income 15% ahead of reported FY21 reported NRI\n \n \n · \n PRS rent collection of 98%\n \n \n · \n 6 new operational PRS assets added during FY21, totalling over 1,300 new homes, a record year of delivery and already 91.5% let\n \n \n · \n 4 acquisitions for £299m during FY21\n \n \n · \n PRS now represents 69% of Grainger's total portfolio \n \n \n \n \n \n \n \n \n Helen Gordon, Chief Executive of Grainger, the UK's largest listed residential landlord, said:\n \n \n \"We have delivered a robust performance for the year, and with our strong strategic momentum we are entering our next phase of dynamic growth. \n \n \n \n \n \n \"Our success has delivered 53% growth in profit before tax, 2% growth in adjusted earnings and passing net rental income1 15% ahead of FY21 reported NRI, with our resilient regulated tenancy portfolio providing strong rental income growth and strong sales performance, which more than offset the slight reduction in occupancy in our PRS portfolio caused by the pandemic earlier in the year. We are proposing a final dividend of 3.32p per share2. \n \n \n \n \n \n \"Our well-established growth strategy has continued unabated with our delivery of more than 1,300 new operational PRS homes and four new acquisitions totalling £299m of investment. \n \n \n \n \n \n \"The UK private rented sector, particularly build-to-rent, remains a highly attractive sector to invest in. It proved resilient during the pandemic. Our strategy of investing in high quality, mid-market private rental homes in target cities across the UK, identified by our in-house research and aligned to sound responsible business and ESG values, remains the right strategy for Grainger. \n \n \n \n \n \n \"Looking to Grainger's future, ...