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Annual Results

Assura underlying pre-tax profits up 78%

18 May 2016 07:36

Primary care property investor and developer Assura's underlying profit before tax rose by 78.0% to GBP28.3 million in the year to the end of March.

The group reports 19.9% growth in investment property, to over £1.1 billion (2015: £0.9 billion); 3.9% growth in diluted EPRA NAV per share to 45.8 pence (2015: 44.0 pence); a 14.7% increase in rent roll to £63.8 million (2015: £55.6 million) and £28.8 million profit before tax (2015: £36.6 million) after £34.1 million debt early repayment costs.

Executive chairman Simon Laffin said:"The NHS is under great strain at the moment, but there is a growing consensus that more and better primary care is one of the answers to this. We need more GPs, to use them more effectively and with more diagnostic and specialist medical staff around them. We know that patients prefer being cared for by their local GPs and that this is much cheaper for the NHS than those patients going into A&E. Larger, better quality premises are crucial to house these enhanced services. Fortunately the UK has a unique and efficient funding model in the primary care property sector that can deliver substantial additional private capital investment to support this, whilst allowing the Government to control costs. "Assura has a strong balance sheet, the in-house expertise, and excellent relationships with both GPs and the wider health service. We stand ready to help the Government deliver a stronger vibrant primary care service."

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