11 Feb 2016
Trading update: Strong rental growth, sales performance
Grainger has released a trading update for the 4 months to the end of January. Rental growth is strong and sales performance is healthy, with sales values exceeding last appraised VPV and an £81m pipeline. Year to date, Grainger has committed £124m to PRS investment including c.£25m of tenanted PRS units. We await further detail on cost savings which will be announced at the interim results (19th May). The shares continue to trade at a c.20% discount to NNNAV. We reiterate our BUY recommendation ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Trading update: Strong rental growth, sales performance
Grainger plc (GRI:LON) | 251 2.5 0.4% | Mkt Cap: 1,859m
- Published:
11 Feb 2016 -
Author:
Andrew Watson -
Pages:
3
Grainger has released a trading update for the 4 months to the end of January. Rental growth is strong and sales performance is healthy, with sales values exceeding last appraised VPV and an £81m pipeline. Year to date, Grainger has committed £124m to PRS investment including c.£25m of tenanted PRS units. We await further detail on cost savings which will be announced at the interim results (19th May). The shares continue to trade at a c.20% discount to NNNAV. We reiterate our BUY recommendation ....