- Residential landlord Grainger said annual profit rose 30% thanks to a surge in net rental income.

For the year ended 30 September, pre-tax profit rose 30% to £131.3m as net rental income grew by 45% to £63.5m.

Valuation gains were up 1.9%, and a total property return grew 5%.

The company proposed to increase its final dividend by 9% to 3.46p, taking its annual dividend to 5.19p per share, up 9%.

Looking ahead, the company said it would continue to its investment pipeline and take advantage of the structural growth opportunity within the private rent sector (PRS) market, which provided a clear path to its portfolio that was over 75% PRS.

At 8:27am: [LON:GRI] Grainger PLC share price was +2.6p at 278.6p

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