StockMarketWire.com - Healthcare facility investor Primary Health Properties upped its dividend after it swung to a first-half profit, on the back of higher rental income and positive property revaluations.

Pre-tax profit for the six months through June amounted to £39.6m, compared to a loss of £106.1m on-year.

Primary Health Properties declared an interim dividend of 2.95p per share, up 5.4% on-year.

Net rental income rose 20% to £64.8m and adjusted EPRA earnings, an underlying measure preferred by the company, rose 29% to £36.0m.

Chief executive Harry Hyman said the Covid-19 pandemic had highlighted the demands on health systems around the world.

'The need for modern, integrated, local primary healthcare facilities is becoming ever more pressing in order to relieve the pressures being placed on hospitals and A&E departments,' he said.

"As a result of the Covid-19 pandemic, we see strong demand for extra space to help alleviate the backlog of consultations that has arisen as a result of the coronavirus, while facilitating the movement of activity out of hospitals and the continued care of patients that have suffered from Covid-19.'




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