GRI Grainger Plc

TIDMGRI

RNS Number : 9687D

Grainger PLC

27 June 2023

27 June 2023

Grainger plc

("Grainger", the "Company", the "Group")

TRADING UPDATE AND CAPITAL MARKETS EVENT

   --    Like-for-like rental growth 7.1% YTD 
   --    Record occupancy 98.7% (PRS) continues 
   --    Sales performance remains resilient 

Grainger plc, the UK's largest listed residential landlord and leader in build-to-rent, with 9,737 operational rental homes and a further 5,406 build-to-rent homes in its GBP1.4bn secured pipeline as at HY23, is today providing an update on trading for the 8 months to 31 May 2023 and holding a Capital Markets Event at Enigma Square, in Milton Keynes.

Helen Gordon, Chief Executive of Grainger, said:

"Momentum in the business is continuing as we move into the peak summer lettings season and the launch of 7 new schemes in the remainder of 2023. Occupancy remains at record levels at over 98% and like-for-like rental growth across our national portfolio is continuing to build whilst remaining mindful of overall customer affordability levels".

Momentum in lettings continues

Our market-leading operating platform continues to deliver value:

   --    7.1% total like-for-like rental growth YTD (HY23: 6.8%) 
   --    98.7% spot occupancy at the end of May ( HY23: 98.5%) 

Sales performance remains resilient

   --    Vacant sales volumes ahead of this time last year 
   --    Robust sales pricing on average 1.8% below September vacant possession values YTD 

Capital Markets Event

The event will focus on Grainger's investment in Milton Keynes, how we are de-risking development delivery and how we are harnessing data and customer insights to drive a robust and strong operational performance.

Copies of the presentation will be available on Grainger's website (http://corporate.graingerplc.co.uk/) following the event.

-ENDS-

For further information:

Grainger plc

Helen Gordon/ Rob Hudson

London Office Tel: +44 (0) 20 7940 9500

Newcastle Office Tel: +44 (0) 191 261 1819

Camarco (Grainger PR)

Ginny Pulbrook / Geoffrey Pelham Lane

Tel: +44 (0) 20 3757 4992/4985

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCSEUEFMEDSEFM

(END) Dow Jones Newswires

June 27, 2023 02:00 ET (06:00 GMT)

Grafico Azioni Grainger (LSE:GRI)
Storico
Da Mar 2024 a Apr 2024

Grafico Azioni Grainger (LSE:GRI)
Storico
Da Apr 2023 a Apr 2024