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Primary Health Properties increases dividend after strong annual performance
StockMarketWire.com
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Property investment trust Primary Health Properties has seen positive growth across its balance sheet, driven by a year of strong demand and improved management structure.
PHP's adjusted earnings increased by £13.4 million to £73.1 million driven by continued growth in rental revenues as well as a reduction in cost of finance. The group were also bolstered by a full year's contribution from the merger with MedicX.
The group also reported an increase to the dividend per share, up 5.4 percent to 5.9p.
The value of the groups investment portfolio also grew, up 2 percent to £2.576 billion
Steve Owen, chairman, commented: Despite the uncertainty and volatility in the economic environment we have continued to deliver a strong and robust operational and financial performance over the course of 2020.
The group also outlined intentions to continue making acquisitions over the coming year.
The Group continues to have a strong, active pipeline of potential acquisitions both in the UK and Ireland totalling approximately £129m, including £59m under offer. Said Owen.
At 8:02am: (LON:PHP) Primary Health Properties PLC share price was 0p at 150p
Story provided by StockMarketWire.com
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