Business
Half Year Financial Results
Half Year Financial Results.
About this update from Grainger Plc
[{"type":"text","content":"\n\n15 May 2025\n \nGrainger plc\n \nHalf year financial results\nfor the six months ended 31 March 2025\n \nOutstanding performance; Accelerating growth;\nDelivering shareholder value\n§ EPRA Earnings up +23%\n§ Net rental income growth of +15%\n§ Strong like-for-like rental growth of +4.4%\n§ Dividend up +12%\n§ Strong demand and high occupancy at 96.0%\n§ Property values increasing\n§ Excellent outlook\n \nGrainger plc, the UK's largest listed residential landlord and leader in the build-to-rent (BTR) sector, today announces another period of strong performance for the six months ended 31 March 2025.\nHelen Gordon, Chief Executive, said:\n\"Grainger has delivered another period of outstanding performance and we are continuing to deliver growth year-on-year. Earnings1 are up 23% whilst net rental income grew 15% compared to this period last year, driven by our new openings, growth in underlying rents and our ability to leverage our central costs and operational platform. Our properties are in high demand and our portfolio remains fully let with occupancy at 96% with a strong customer demographic base and stable and healthy levels of affordability. The expansion of our BTR portfolio is accelerating our earnings growth.\n \n\"Residential, specifically private rented residential, has proven its resilience through the cycle compared to other real estate asset classes with excellent rental growth protecting valuations and we are seeing continued valuation growth. Investment activity in the build-to-rent sector is very buoyant with reports of more than £1bn of investment activity in Q1 this year. Our market is characterised by structural demand drivers, supply-constrained markets, strong customer demographics and a supportive regulatory and political backdrop which is aimed at stimulating investment activity.\n \n\"Through the delivery of the first part of our pipeline, our committed pipeline, we expect to deliver strong like-for-like rental growth and 50% earnings growth from FY24 to FY29 after fully absorbing the impact of higher interest costs. We have significant firepower from our non-core portfolio to fund growth beyond that for our remaining pipeline or additional stabilised acquisitions.\n \n\"Our business is designed to create shareholder value. We operate in a sector with strong structura...