30 Nov 2017
N+1 Singer - Grainger - Positive finals, growing income with financial efficiency improved
Grainger’s final results show execution according to the strategic plan and a strong year for underlying earnings. Net rental income and profits on sales grew and overheads and gross to net reduced. The key valuation metric, NNNAV, grew by 5.6% to 303p on appreciation in property assets and from retained earnings. There is balance sheet headroom to convert the PRS pipeline which now incorporates £651m secured but, including other opportunities, totals £1.3bn vs the £850m target. We see continued ....
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N+1 Singer - Grainger - Positive finals, growing income with financial efficiency improved
Grainger plc (GRI:LON) | 258 -2.1 (-0.3%) | Mkt Cap: 1,912m
- Published:
30 Nov 2017 -
Author:
Andrew Watson -
Pages:
3
Grainger’s final results show execution according to the strategic plan and a strong year for underlying earnings. Net rental income and profits on sales grew and overheads and gross to net reduced. The key valuation metric, NNNAV, grew by 5.6% to 303p on appreciation in property assets and from retained earnings. There is balance sheet headroom to convert the PRS pipeline which now incorporates £651m secured but, including other opportunities, totals £1.3bn vs the £850m target. We see continued ....