Grainger delivers 'strong' YTD performance

Rental homes provider Grainger said on Wednesday that it had delivered "a strong performance" in the first four months of its financial year.

Grainger said occupancy across its private rental sector portfolio was sitting at 97% on 31 January, while total like-for-like revenue growth accelerated to 3.2% and rent collection remained strong at 98%.

The FTSE 250-listed firm stated it had also seen strong growth momentum, with its £1.9bn pipeline expected to deliver growth in recurring earnings, as net rental income, by approximately 2.5 times over the medium-term.

In terms of sales, prices achieved remained ahead of valuations by between 1-2%.

Chief executive Helen Gordon said: "We have delivered a strong performance for the start of our financial year. We have achieved occupancy in our PRS portfolio of 97%, an improvement since the year end. Rental growth is strengthening further at 3.2%, having remained positive throughout the pandemic.

"This performance is testament to our strong operational platform. Our customers recognise the value in our high-quality homes and great service."