Assura swings to full-year loss

Primary care property investor and developer Assura said on Tuesday that it swung to a full-year loss as its property valuation fell.

In the year to the end of March, the company swung to an IFRS pre-tax loss of £119.2m from a profit of £155.8m a year earlier.

The company recorded a loss on valuation of £215.3m versus a revaluation gain of £69.4m the year before. Assura said this reflects "the recent unstable macroeconomic backdrop and movement in gilt yields".

Total property return came in at -£77.3m from £195.5m a year earlier.

Assura said passing rent roll rose 6% to £143.4m, while net rental income increased 9% to £138m. The portfolio value edged down to £2.74bn from £2.75bn.