Assura plc, the Warrington-based healthcare real estate investment trust (REIT), said its profit before tax grew 44% to £155.8 million in the year to March 31, 2022, as its portfolio value rose 12% to £2.752 billion.
Total dividends settled in the year to were £80.4 million or 2.93p per share, and Assura is proposing a 5% increase in its quarterly dividend payment to 0.78p with effect from the July 2022 payment, its ninth consecutive year of increased dividend.
Passing rent roll increased 12% to £135.7 million.
Assura reported a growing portfolio of 645 properties “serving 6.8 million people across the UK” and a total development pipeline of £522 million.
Assura CEO Jonathan Murphy said: “Assura has delivered another year of significant progress, maintaining its strong financial performance and making a positive contribution to the local communities in which it operates.
“We have grown our high-quality portfolio to £2.8 billion, progressed our ambitious development pipeline which stands at over £500 million and expanded our offering through working with NHS Trusts, independent providers and making our first investment in Ireland.
“Supported by our successful bond and equity raises ‒ with accelerated use of proceeds‒ we have continued to deliver critical new capacity for community healthcare and fulfil the ambitions of our extensive SixBySix social impact strategy.
“With the UK’s healthcare estate lacking the critical buildings and facilities to tackle the growing backlog of treatments following the pandemic, we know the development of modern, integrated, and high-quality primary care space is a key enabler in reducing this pressure.
“This area benefits from cross-party political support and Assura is committed to making a significant contribution – all the while accommodating for key emerging trends, including hybrid GP appointments, the requirement for mental health support, and digitalisation.
“As the NHS seeks to become the world’s first net-zero carbon health system, Assura has continued to roll out initiatives to deliver its strong sustainability plans that support all stakeholders over the year.
“Against an uncertain economic backdrop, Assura’s steady and reliable business model, strong balance sheet and differentiated market position means it is extremely well positioned to continue growing and delivering shareholder value.
“We remain confident in Assura’s outlook for the coming year and beyond”.