Healthy growth for care sector investor

PRIMARY care property investor and developer Assura has announced a 27.5% increase in revenue to £48.2m (2014: £37.8m) in its preliminary results.

Its pre-tax profit soared 51.2% to £36.6m (2014: 24.2m) and the Warrington-based company has issued a fully covered, current quarterly dividend of 0.5p or 2p per share on an annualised basis.

The company also reported a 40.9% increase in investment property to £925m (2014: £657m) and a 33.0% increase in total rent roll to £55.6m (2014: £41.8 m) with completed acquisitions totalling £230m.

Meanwhile, Assura has completed four developments at a cost of £19.6m.

The company says it has been helped by ever increasing demands on its health service from an ageing population, rising public expectation and medical advances.

It also says the Government has recently committed funding to back new premises development and there has been low volatility of property returns with low default risk and a link with cost inflation.

Chief executive Graham Roberts said:  “Our business is driven by the continuing and growing need for community based health and social care in the UK.

“We are at a point in time when this need is growing as never before.

The challenge has been recognised by the NHS and Government and resources for primary care infrastructure are being prioritised.
 
“Following our substantial increase in scale and financial resources this year, we are well placed to contribute with both skills and capital to this important endeavour.”