Profits rise to £41.7m for primary care investor
WARRINGTON-based primary care property investor Assura has seen pre-tax profit to rise £41.7m in the half year to September 30 (H1 2015: £35.4m) amid what it says is a “growing consensus that primary care must play a bigger role in health provision”.
The company has also been 10.6% growth in its investment property to £1.2bn, compared to its year end in March 2016 when the figure was £1.1bn.
Assura has also secured a new £200m revolving credit facility signed at an initial margin of 150bps.
The company said it has identified significant historical underinvestment in primary care space with many GP premises not currently fit for purpose.
However, Assura, which has a portfolio of 363 medical centres, said had a strong line with £131m of acquisitions and development.
Interim chief executive Jonathan Murphy said: “Assura has grown significantly in the first half of the year, reflecting the benefit of completed developments and acquisitions.
“The group is well positioned as a sector leader in a market that is in critical need of investment.
“There is a growing consensus that primary care must play a bigger role in health provision and the goup is ideally placed with the expertise, scale and financial flexibility to help the NHS develop our nation’s primary care infrastructure.”
