Primary Health eyes growth opportunities in UK and Irish healthcare sectors

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(, ) () unveiled occupancy levels and rental income growth numbers that mainstream rivals could probably only dream of at this stage of the pandemic with its focus on developing local medical centres literally paying dividends.The half-term round-up revealed a company in rude health. The occupancy level was 99.7% for the six months ended June 30, while net rental income grew 4.5% to £67.7mln over the period, giving adjusted earnings of £40.7mln, up 13.1%.The dividend increased 5.1% to 3.1p, while the PHP’s net asset value nudged 2.2% higher to 115.4p.The unexpired weighted average lease on its properties is just under 12 years. Weighted debt maturity, meanwhile, is six years, while the company is paying an average of 3.4% on its borrowings. The update revealed PHP has undrawn facilities and cash of £335mln. Source link
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