Grainger plc has reported a 23% rise in adjusted earnings to £46.3m on the back of high occupancy across its private rented sector (PRS) portfolio.
The Newcastle-based firm, the UK's largest listed landlord with a £3.1bn portfolio and £2.4bn pipeline, revealed half year results to investors showing group revenue of £126.6m in the six months to the end of March, up from £101.1m in the same period 2021.
Growth was driven by 98% occupancy across the landlord's £2.2bn PRS portfolio, which now accounts for 71% of the group's entire portfolio value. Total like-for-like rental growth was 3.5% for the period, up from 1.7% in the same period 2021.
