Plus   Neg

Primary Health Properties Swings To Profit In FY20

Primary Health Properties plc (PHP.L) reported a profit for the full year 2020 on increased rental income led by strong demand on health systems around the world.

The company's IFRS profit for the year amounted to £112.0 million or 8.8p per share compared to a loss of £71.3 million or 6.5p per share last year.

Adjusted earnings increased 22.4% to £73.1 million from £59.7 million a year ago. On a per share basis, earnings rose 5.5% to 5.8p from the previous year's 5.5p.

Net rental income receivable in the year increased by 13.4% to £131.2 million from £115.7 million in the previous year.

Harry Hyman, Chief Executive, said, "We have continued to support the NHS in the UK, HSE in Ireland and our GP occupiers throughout the COVID-19 pandemic which has highlighted the demands on health systems around the world. Many of our primary care facilities and occupiers are now in the front-line of delivering Covid-19 vaccines. We continue to see demand for extra space to help enable the redirection of activities out of hospitals..."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Chico's FAS Inc. (CHS) Tuesday reported a wider year-over-year net loss for the fourth quarter. Meanwhile, Kohl's Corp.'s (KSS) fourth-quarter net income grew 29 percent from the previous year. But Abercrombie & Fitch Co.'s (ANF) fourth-quarter net income decreased 1 percent from the prior year. The U.S. Food and Drug Administration has approved the marketing of a new robotically-assisted surgical device (RASD) that can facilitate transvaginal hysterectomy in certain patients using minimally-invasive surgical instruments. The Hominis Surgical System of Memic Innovative Surgery Ltd., the U.S. subsidiary of Israeli biotechnology company memic Ltd., has been granted marketing authorization. Canadian cannabis company Canopy Growth Corp. (CGC, WEED.TO) announced Tuesday the launch of its Cannabidiol (CBD) beverage brand Quatreau in the high-potential U.S. market. Quatreau will be sold on Canopy's one-stop U.S. e-commerce destination, www.shopcanopy.com. Quatreau is a premium ready-to-drink...
Follow RTT