StockMarketWire.com - Primary care property investor and developer Assura said its portfolio grew 28.8% in the year to the end of March but underlying profit fell 24.6% following early repayment costs of £56m paid to Aviva.

The property portfolio rose 28.8% to £1.7bn in the year, from £1.3bn the previous year, while EPRA earnings per share rose 4.2% to 2.5p as net rental income grew 18% and the EPRA cost ratio fell to 13%.

The uptick in portfolio growth was mainly supported by acquisitions.

'In the year we completed £314m of property additions, which was the largest contributor to the £388m increase in investment property in the year. This has enabled our rent roll to grow by 22% to £91.0m,' Assura said. Total property return for the year was unchanged from last year at 9.7%.

The rent roll rose 22.3% to £91.0m from £74.4m. Six developments that were completed during the year at a total development cost of £31.3m added £1.6m to the annual rent roll, the company said. Profit before tax fell 24.6% to £71.8m from £95.2m.

The total dividend for the year was 2.455p per share up from 2.25p.


At 9:40am: [LON:AGR] Assura Group Ltd share price was -0.3p at 58.7p



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