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Grainger PLC (GRI.L)

GRI.L on London Stock Exchange

261.19GBp
4:52am EDT
Change (% chg)

-0.71 (-0.27%)
Prev Close
261.90
Open
262.60
Day's High
262.60
Day's Low
261.10
Volume
37,759
Avg. Vol
974,655
52-wk High
267.40
52-wk Low
193.00

Latest Key Developments (Source: Significant Developments)

Grainger half-year earnings rise
Friday, 19 May 2017 02:00am EDT 

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".  Full Article

Grainger reports total LFL rental growth of 3.4 pct year to date
Wednesday, 8 Feb 2017 02:00am EST 

Grainger Plc : Good start to year and positive private rented sector ("PRS") market conditions . 3.4 pct total like-for-like rental growth year to date .Expect first half volumes to return to normal levels this year.  Full Article

Grainger says Brexit uncertainty has not impacted its sales pipeline
Thursday, 1 Dec 2016 02:00am EST 

Grainger Plc : Full year results for year ended Sept. 30, 2016 . Refocused and simplified business delivers strong earnings growth and a 64 pct increase in dividend . Net rental income up 15 pct to £37.4m (FY15: £32.4m) . Profit before tax up 64 pct to £84.2m (FY15: £51.4m) . EPRA NNNAV growth of 9 pct to 287p (FY15: 263p) . Total return (return on shareholder equity) of 10.6 pct (FY15: 10.0 pct) . We look forward to an exciting and profitable future ahead . Brexit vote was seen to have a negative impact on housing market but was not evidenced in our sales pipeline .PRS sector is widely regarded as one of most resilient real estate classes post EU referendum.  Full Article

Grainger commits to build-to-rent scheme on Leeds Riverside
Friday, 30 Sep 2016 03:15am EDT 

Grainger Plc : Commit to landmark build-to-rent scheme on Leeds Riverside to deliver c.250 prs homes . Agreed to forward purchase a private rented sector for c.40m stg from YP Real Estate .Scheme is expected to complete in 2019 and is anticipated to generate a gross yield on cost approaching 7 pct once fully let.  Full Article

Grainger says performance in sales in line with management expectations
Thursday, 11 Aug 2016 02:00am EDT 

Grainger Plc : Update on trading for ten months to 31 July 2016 . Says 91 mln stg of revenue from sales of vacant properties over period (July 2015: 81 mln stg) . Says sales pipeline of 188 mln stg (July 2015: 172 mln stg) . Says started construction of our 100 mln stg Clippers Quay Scheme in Salford (614 homes) .Says continued high levels of demand for UK private rented sector homes (PRS), with good lettings and levels of rental growth.  Full Article

Grainger sees FY recurring profit ahead of its expectations
Thursday, 19 May 2016 02:02am EDT 

Grainger Plc : Strong performance during a transformational period . Significant progress against strategic targets . Grainger has performed strongly in first six months of year. . Identified cost savings that will reduce our overheads by almost a quarter . Half yearly net rental income up 13% to £18.0m. . Rhalf yearly recurring profit up 13% to £25.4m. . 1.45p interim dividend and an expected full year dividend of around 4p, . Profit before tax on continuing operations of £36.6m (hy15: £21.1m), . Second half of the year has started well . Expect recurring profit for full year to be ahead of management expectations. .Actively considering, bidding on, and securing a number of compelling prs investment opportunities,.  Full Article

Grainger Plc announces sale of german portfolio and business
Friday, 5 Feb 2016 02:01am EST 

Grainger Plc:Says it has exchanged contracts with Heitman, to sell its equity interest in the FRM German residential rented portfolio and in its German business platform for gross consideration of e124 mln (£94m).  Full Article

Grainger declares quarterly dividend
Wednesday, 27 Jan 2016 09:05am EST 

Grainger PLC:Declares a cash dividend of $1.17 per share payable on March 1, 2016, to shareholders of record on February 8, 2016.  Full Article

Grainger Plc announces board changes
Thursday, 13 Aug 2015 02:00am EDT 

Grainger Plc:Says that as previously announced, Helen Gordon will join the company as CEO Designate, and we are delighted that she will now join no later than 1 December 2015, earlier than previously stated.  Full Article

Grainger plc announces new CEO appointment
Tuesday, 30 Jun 2015 02:01am EDT 

Grainger plc:announces appointment of Helen Gordon as CEO designate.As previously announced, Andrew Cunningham, the current CEO of Grainger, will retire from the company in Feb 2016.It is anticipated that Helen will join the company on Jan. 1, 2016, providing sufficient time to complete an orderly handover.  Full Article

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Britain's Grainger first-half profit rises

May 19 Grainger Plc, Britain's largest listed residential landlord, reported a 13 percent rise in first-half profit and said strong trading would continue over the second half.