Assura has released its interim results for the half-year ended 30 September 2015, which the company says has been, “Another period of significant growth”. During the period, the company’s EPRA NAV per share has increased by 5.5% to 46.4p (March 2015: 44.0p). The company also reports a 26.6% increase in net rental income for the six months to £28.1m (2014: £22.2m) along with a 79.4% increase in underlying profit from continuing operations to £11.3m for the six months (2014: £6.3m). They also say that there has been a 115% increase in profit before tax to £35.4m (2014: £16.5m). The company is also making a10% increase in quarterly dividend to 0.55 pence per share, equivalent to 2.2 pence per share on an annual basis.
In terms of portfolio activity, the company completed the acquisition of 36 properties for £65m, saw a £100m increase in investment property to £1,025.0m (March 2015: £925.3m) and had a 7.2% increase in total rent roll to £59.6m (March 2015: £55.6m). The company has also completed, since the period end a £300m equity raise, which they say will be used to Fund the near term pipeline of acquisitions and developments (approximately £126m) and repay £181m of long-term fixed rate debt.
In terms of its current portfolio, the company reports that it has 301 practices throughout the country and a good pipeline of potential acquisitions.
Assura continues to grow portfolio has a good pipeline of potential acquisitions : AGR