StockMarketWire.com - Residential landlord Grainger said rental growth was 3% year to date and collections remained at 95% at the end of August.

Sales profit in the year was expected to be 'broadly in line' with the prior year.

Occupancy in its private rented sector portfolio was over 95% year to date, down from 97% year-on-year, with its August month end occupancy at 91% compared with 97% a year earlier, owing to 'delays in the seasonal peak letting period caused by Covid-19,' the company said.

Residential arrears remained low at 1.8% of gross rent, below the historical average, it added.

'Our balance sheet is strong, and we continue to deliver a good performance whilst growing our pipeline of PRS assets. Grainger is well placed to navigate any near-term economic uncertainty, continue its growth strategy and lead the way within the build to rent sector,' Grainger said.

Story provided by StockMarketWire.com