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BRIEF-Grainger half-year earnings rise
May 19, 2017 / 6:12 AM / 4 months ago

BRIEF-Grainger half-year earnings rise

May 19 (Reuters) - Grainger Plc

* Half year results

* HY net rental income up 11 pct to 20.0 mln stg (HY16: 18 mln stg)

* HY adjusted earnings* up 39 pct to 34.1 mln stg (HY16: 24.5 mln stg)

* HY profit before tax up 13 pct to 41.2 mln stg (HY16: 36.6 mln stg)

* HY dividend per share up 10 pct to 1.60p (HY16: 1.45p)

* HY EPRA NNNAV up 8 pence per share or 3 pct since year end to 295 pence (FY16: 287 pence)

* HY like-for-like rental growth across our entire portfolio of 3.5 pct in first six months

* Good progress on prs pipeline with 439 mln stg of our 850 mln stg investment target secured, and a further 425 mln stg in planning or legal process

* “Expect a further strong trading performance in second half of year and lead indicators point to a robust performance for year as a whole”

* “Will retain our selective and disciplined approach and remain focused on returns as we move towards securing our 850 mln stg PRS investment target by 2020” Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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