NAV nudges up as rental income leaps at Grainger

By David Parsley2019-11-27T08:44:00

Net asset value (NAV) at Grainger nudged up 1% in the year to the end of September, as rental growth helped fuel a 9% dividend hike.

NAV post the year’s rights issue, rose to 272p from 270p a year earlier. Rental growth slowed a fraction from 4% in 2018 to 3.6% and expansion of the group’s private rented sector (PRS) portfolio helped drive 45% growth in net rental income to £63.5m. Earnings per share were up 5% to 19.8p.

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