Business
Trading Update and Capital Markets Event
Trading Update and Capital Markets Event.
About this update from Grainger Plc
27 June 2023 Grainger plc ("Grainger", the "Company", the "Group") TRADING UPDATE AND CAPITAL MARKETS EVENT · Like-for-like rental growth 7.1% YTD · Record occupancy 98.7% (PRS) continues · Sales performance remains resilient Grainger plc, the UK's largest listed residential landlord and leader in build-to-rent, with 9,737 operational rental homes and a further 5,406 build-to-rent homes in its £1.4bn secured pipeline as at HY23, is today providing an update on trading for the 8 months to 31 May 2023 and holding a Capital Markets Event at Enigma Square, in Milton Keynes. Helen Gordon, Chief Executive of Grainger, said: "Momentum in the business is continuing as we move into the peak summer lettings season and the launch of 7 new schemes in the remainder of 2023. Occupancy remains at record levels at over 98% and like-for-like rental growth across our national portfolio is continuing to build whilst remaining mindful of overall customer affordability levels". Momentum in lettings continues Our market-leading operating platform continues to deliver value: · 7.1% total like-for-like rental growth YTD (HY23: 6.8%) · 98.7% spot occupancy at the end of May ( HY23: 98.5%) Sales performance remains resilient · Vacant sales volumes ahead of this time last year · Robust sales pricing on average 1.8% below September vacant possession values YTD Capital Markets Event The event will focus on Grainger's investment in Milton Keynes, how we are de-risking development delivery and how we are harnessing data and customer insights to drive a robust and strong operational performance. Copies of the presentation will be available on Grainger's website (http://corporate.graingerplc.co.uk/) following the event. -ENDS- For further information: Grainger plc Helen Gordon/ Rob Hudson London Office Tel: +44 (0) 20 7940 9500 Newcastle Office Tel: +44 (0) 191 261 1819 Camarco (Grainger PR) Ginny Pulbrook / Geoffrey Pelham Lane Tel: +44 (0) 20 3757 4992/4985