logo
Plus   Neg
Share
Email

Grainger Plc Reports Good Start To Year; Says Confident Of FY View - Quick Facts

Grainger Plc. (GRI.L), a residential landlord, Wednesday reported that it has been a good start to the financial year. Pricing is steady and volumes have slowed slightly, and the company remains confident to achieve full year expectations.

In its trading update, for the first four months of the year to the end of January 2019, the company said its 1.3 billion pounds stabilised Private Rental Sector or PRS portfolio, of about 4,750 units, is performing well.

The company achieved a 3.4% like-for-like rental growth on PRS portfolio, which demonstrates the depth of customer demand. This is the largest stabilised PRS portfolio in the UK and is performing well, the company noted.

Residential sales remain in line with historic levels. Residential sales for the period performed in line with prior year.

Helen Gordon, Chief Executive of Grainger, said, "Strong sales performance at the end of last year reduced our vacant ex regulated properties available for sale. ...With the business now underpinned by a resilient rental income stream and a robust balance sheet we are in a great position to progress our next phase of growth."

The company will announce its half year financial results on May 16.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
McDonald's Corp. has announced the return of its popular Shamrock Shake milkshake for a limited time at participating U.S. restaurants nationwide. The minty green milkshake is made with McDonald's vanilla soft serve blended with Shamrock Shake syrup and topped with whipped topping. It first debuted on the McDonald's menu in 1970 and has been a seasonal tradition for nearly 50 years. Asia-focused lender HSBC, through its blockchain-powered platform, has reduced the cost of settling foreign exchange trades by 25 percent, Reuters reported quoting a bank executive overseeing the project. Mark Williamson, chief operating officer of FX cash trading and risk management, told that the bank processes between 3,500 and 5,000 trades a day on its "FX Everywhere" system. PepsiCo, Inc. (PEP) reported fourth-quarter core EPS of $1.49 compared to $1.31, prior year. Excluding the impact of foreign exchange translation, core constant currency EPS increased 17 percent year-over-year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per...
Follow RTT