Grainger PLC has announced an interim dividend of 2.28p (March 2022: 2.08p) per share which will return £16.9m (March 2022: £15.4m) of cash to shareholders. In the six months ended 31 March 2023, the final dividend for the year ended 30 September 2022 which amounted to £28.8m has been paid.
Other financial highlights include:
2% growth in Adjusted Earnings1 to £47.1m (HY22: £46.3m)
12% growth in Net Rental Income2 to £48.0m (HY22: £42.8m)
49% growth in EPRA Earnings to £21.9m (HY22: £14.7m)
EPRA Net Tangible Assets (EPRA NTA) robust at 310pps (FY22: 317pps; HY22: 305pps), reflecting strong ERV growth of 4.1% offsetting c.25bps yield expansion in the period
IFRS profit before tax of £5.7m reflecting a 1.3% valuation decline (HY22: £98.8m, reflected a 2.3% valuation increase)
