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Assura annual profit climbs on higher rental income
StockMarketWire.com
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Primary care property investor and developer Assura reported jump in annual profit as additions to its portfolio boosted net rental income.
For the year ended 31 March 2021, pre-tax profit was up 37% to £108.3 million year-on-year as net rental income rose 8% to £112 million.
Portfolio value increased 15% to £2,453 million and rent collections continued to be in line with normal patterns, the company said.
Looking ahead, the company said it entered the new financial year with a 'strong' immediate pipeline.
In development, we are on site at 16 schemes with a gross development spend of £72 million, an immediate pipeline of £111 million of development opportunities that are expected to commence within the next 12 months, and an extended pipeline of £222 million of further opportunities where Assura is the exclusive partner,' Assura said.
'Acquisition opportunities in legal hands total £46 million and we have £15 million of asset enhancement capital projects in the immediate pipeline,' it added.
At 8:26am: (LON:AGR) Assura PLC share price was 0p at 76p
Story provided by StockMarketWire.com
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