Takeover target Assura swings to annual profit

(Sharecast News) - UK healthcare property investor Assura on Monday posted a 16.6% rise in annual net rental income and swung to a profit as it eyed growth opportunities in the UK. The company, which is currently the subject of a bidding war between rival Primary Health Properties and a KKR/Stonepeak consortium, posted pre-tax earnings of £166m, compared with a loss of £28.7m a year earlier.

"The changes currently being seen in the UK healthcare market mean there are substantial and varied opportunities for Assura to take advantage of," the company said.

"The NHS is in crisis. An ageing population, increasingly complex long-term medical conditions and cost inflation, all of which can be seen in the well-documented increase in waiting lists, mean the pressure and challenges faced by the NHS today are greater than ever. This has been highlighted extensively by senior politicians in the new Labour government."

Reporting by Frank Prenesti for Sharecast.com