Grainger has released a trading update to the end of August reporting LFL rental growth of 3.4% (ahead of our forecasted 3% for FY19e), leasing ahead of expectations at its new schemes in Bristol, Manchester & Hampshire, and a complimentary acquisition also in Bristol. We leave our forecasts unchanged at this stage, though we note we are ahead of consensus for FY20 and reiterate our Buy recommendation seeing value at current levels.
27 Sep 2019
Trading update shows good rental growth, leasing ahead of expectations, new acquisition
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Trading update shows good rental growth, leasing ahead of expectations, new acquisition
Grainger plc (GRI:LON) | 252 3.8 0.6% | Mkt Cap: 1,871m
- Published:
27 Sep 2019 -
Author:
Kunal Walia -
Pages:
3
Grainger has released a trading update to the end of August reporting LFL rental growth of 3.4% (ahead of our forecasted 3% for FY19e), leasing ahead of expectations at its new schemes in Bristol, Manchester & Hampshire, and a complimentary acquisition also in Bristol. We leave our forecasts unchanged at this stage, though we note we are ahead of consensus for FY20 and reiterate our Buy recommendation seeing value at current levels.