Primary Health Properties’ pretax profit jumped by 51.9% in 2015.
Profit increased from £36.9m to £56m and EPRA earnings grew by 19.2% to £21.7m, equating to EPRA earnings per share of 4.9p from 4.1p, in the year ended 31 December.
EPRA net asset value per share increased by 10.0% to 87.7p, which together with dividends paid in the year produced a total NAV return of 16.3%, up from 12.8% in 2014.
Net rental income increased by 5.1% due to acquisitions, completing assets under construction, managing existing assets and from rent reviews completed in the year.
The REIT added eight properties, including one forward purchase contract, to its portfolio for £44m and the portfolio’s value grew to £1.1bn.
Harry Hyman, managing director of Primary Health Properties, said: “We have identified and are progressing a number of healthcare real estate investment opportunities in Ireland, an important step for the company.
“We are confident that, as we have long done in the UK, we will be able to apply our strategy to a market which faces similar challenges to its healthcare provision: a growing and ageing population, increasing rates of chronic illness and outdated GP premises.
“The fundamental drivers of the primary care arena remain in place and increased spend committed by the NHS stresses the important role primary care has to play in the future of the health service.”
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