| Item | Sept 2015 result | % change year on year |
|---|---|---|
| NAV | 319p per share | 9.7 |
| Pretax profit | £50m | –38 |
| LTV ratio | 45.50% | –1 |
Homebuilding company Grainger has posted a 9.7% NAV growth to 319p per share in the year to the end of September 2015.
The company has also recorded a profit before tax of £50m, down from £81.1m last year.
A sale of the company’s German joint venture with Heitman generated a pretax profit of €16m (£11m).
This helped fund the purchase of 927 private rented homes over the period, increasing the total portfolio to3,650 PRS units with a market value of just over £1bn. It also bought a further 112 units post-year end.
The company is also developing more than 1,500 units over the next three years.
Grainger’s loan-to-value ratio is 45.5%, down by 1% from last year.
