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Grainger PLC on Wednesday said trading in the four months to the end of January has been strong, as it notes the UK residential rental market remains ‘exceptionally supportive’. The Newcastle Upon Tyne, England-based residential landlord said it expects earnings per share to grow by around 50% in the medium term, through the delivery of its build-to-rent investment pipeline. ‘Grainger continues to perform strongly, delivering 15% growth in total net rental income on the same period last year, and up from 14% growth reported at financial 2024. This reflects the growth in our portfolio, the strength in our leasing and supportive Build to Rent market with excellent fundamentals,’ Chief Executive Helen Gordon said. ‘We expect to deliver continued growth in strong, reliable, cash-backed earnings for years to come, and our conversion to a REIT later this year, marks Grainger’s transformation away from a trading business to a total returns focused investment business underpinned by reliable, recurring income.’ Grainger is due to release its results for the six months ending March 31 on May 15. The firm currently holds an operational portfolio of around £3.4 billion, comprised of around 11,100 homes. It has a pipeline worth around £1.4 billion, for an approximate further 5,000 build-to-rent homes. Grainger’s private rented sector occupancy at January 31 was 96%, which was ‘in line with expectations given the seasonality of the lettings market’. CEO Gordon added: ‘Our leading operating platform powered by our Connect technology platform enables us to keep central costs relatively flat whilst we grow materially, driving this significant compounding earnings growth over the coming years. ‘A supportive regulatory backdrop alongside an increasing number of positive statements in support of Build to Rent from the UK government further strengthens our outlook for the future.’ Shares in Grainger were up 3.8% at 217.00 pence each in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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