Demand for rental properties amid the pandemic has helped boost Grainger plc's revenue and operating profit, new results show.
The Newcastle-based group said it recognised that many people's dreams of home ownership had been put on hold but said it was committed to making renting "life enriching and fun". Announcing performance in the year to the end of September, Grainger said revenue was £279.2m, up from £248.9m the year before with operating profit also increasing to £122.2m from £113.8m.
Overall net rental income, across the group's private rented sector and regulated tenancy portfolio, grew by 22% to £86.3m, up from £70.6m. Further growth is anticipated in the next few years.
