StockMarketWire.com - Assura reported a rise in profits driven by 'robust' revenue and rental growth amid acquisitions, new developments and increase in rent reviews. The company also announced the acquisition of the primary care developer GPI.

'Our expertise in this field will be further strengthened by today's announcement of the acquisition of the primary care developer GPI which enhances our development pipeline by an initial £92 million,' the company said.

For the 12 months to 31 March, profit before tax was up 17% to £84.0m and the portfolio value was up 14% to £1,979m driven by both acquisitions and new developments.

The portfolio expansion saw rent roll grow 13% to £102.7m and rental income up 19% to £95.2m.

Earnings -- stated as EPRA net asset value per share -- was up 8% to 2.7p, which the company attributed to a 'strong pipeline and cost of debt.'

The company raised its dividend per share rise by 8% to 2.65p and quarterly dividend by 5% to 0.685p.

'Assura has delivered another year of strong operational performance with robust revenue and rental growth. This has been driven by our development and investment teams' focus on growing and enhancing our portfolio and active asset management,' said Jonathan Murphy, CEO.

'We are well positioned in the primary care property market and our development pipeline is the strongest it has been in 10 years.'


At 9:28am: [LON:AGR] Assura Group Ltd share price was +1.65p at 62.45p



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