GRI Grainger Plc

TIDMGRI

RNS Number : 9687D

Grainger PLC

27 June 2023

27 June 2023

Grainger plc

("Grainger", the "Company", the "Group")

TRADING UPDATE AND CAPITAL MARKETS EVENT

   --    Like-for-like rental growth 7.1% YTD 
   --    Record occupancy 98.7% (PRS) continues 
   --    Sales performance remains resilient 

Grainger plc, the UK's largest listed residential landlord and leader in build-to-rent, with 9,737 operational rental homes and a further 5,406 build-to-rent homes in its GBP1.4bn secured pipeline as at HY23, is today providing an update on trading for the 8 months to 31 May 2023 and holding a Capital Markets Event at Enigma Square, in Milton Keynes.

Helen Gordon, Chief Executive of Grainger, said:

"Momentum in the business is continuing as we move into the peak summer lettings season and the launch of 7 new schemes in the remainder of 2023. Occupancy remains at record levels at over 98% and like-for-like rental growth across our national portfolio is continuing to build whilst remaining mindful of overall customer affordability levels".

Momentum in lettings continues

Our market-leading operating platform continues to deliver value:

   --    7.1% total like-for-like rental growth YTD (HY23: 6.8%) 
   --    98.7% spot occupancy at the end of May ( HY23: 98.5%) 

Sales performance remains resilient

   --    Vacant sales volumes ahead of this time last year 
   --    Robust sales pricing on average 1.8% below September vacant possession values YTD 

Capital Markets Event

The event will focus on Grainger's investment in Milton Keynes, how we are de-risking development delivery and how we are harnessing data and customer insights to drive a robust and strong operational performance.

Copies of the presentation will be available on Grainger's website (http://corporate.graingerplc.co.uk/) following the event.

-ENDS-

For further information:

Grainger plc

Helen Gordon/ Rob Hudson

London Office Tel: +44 (0) 20 7940 9500

Newcastle Office Tel: +44 (0) 191 261 1819

Camarco (Grainger PR)

Ginny Pulbrook / Geoffrey Pelham Lane

Tel: +44 (0) 20 3757 4992/4985

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END

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(END) Dow Jones Newswires

June 27, 2023 02:00 ET (06:00 GMT)

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