StockMarketWire.com - Care property investor and developer Assura said profit increased by a fifth in the first half of the year on higher net rental income and an increase in its property portfolio.

For the six months to 30 September 2020, pre-tax profit was up 20% to £43.8 million year-on-year and net rental income rose 7.5% to £54.m.

The higher profit included higher net rental income following portfolio additions and positive valuation movement and a £2.5 million donation to the Assura Community Fund.

The portfolio was up 6% to £2,259 million as at 30 September 2020 from £2,139 million in March.

The company's 576 properties' passing rent roll was up 4% to £113.3 million from £108.9 million seen in March.

The company proposed a quarterly dividend of 0.71 pence per share.

Assura said it had an immediate pipeline of £65 million of development opportunities that were expected to commence within the next 12 months, and an extended pipeline of £207 million of further opportunities where the company was the exclusive partner.






At 10:02am: [LON:AGR] Assura PLC share price was 0p at 76p



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