Grainger FY24 pre-tax profit rises; EPRA earnings guidance upgrades in the near term

LONDON (dpa-AFX) – Grainger plc (GRI.L) reported pre-tax profits of £40.6m for the 2024 financial year, up from £27.4m last year. Earnings per share were 4.2 pence, up from 3.5 pence. EPRA profit was £48.0 million, an increase of 21%. EPRA EPS was 6.5 pence, up from 5.4 pence. Adjusted EPRA earnings per share after tax were 4.9 pence, up from 4.2 pence. Adjusted profit was £91.6m, down 6% on last year. Adjusted earnings per share were 9.3 pence, up from 10.3 pence.

For the twelve months ended September 30, 2024, sales were £290.1m, compared to £267.1m last year. The Group recorded a 14% growth in net rental income to £110.1 million. Like-for-like PRS rental growth was 6.3%.

Looking ahead, the Group has increased EPRA earnings guidance for the 2026 financial year by £5 million to £60 million, the second upgrade in the last twelve months. The Group also expects the EBITDA margin to increase substantially from 54% currently to more than 60% in the 2029 financial year.

Visit rttnews.com for more earnings news, earnings calendar and stock earnings.

Copyright(c) 2024 RTTNews.com. All rights reserved

Copyright RTT News/dpa-AFX