London · Delayed Price · Currency is GBP · Price in GBX Grainger Earnings Call Transcripts
Fiscal Year 2025
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Delivered 12% net rental income growth, 3.6% like-for-like rental growth, and 10% dividend increase, with high occupancy and strong operational cash flow. Targeting 50% earnings growth by FY 2029, supported by a robust pipeline, REIT conversion, and sector-leading margins.
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Strong half-year results with 15% net rental income and 23% EPRA earnings growth, supported by high occupancy and robust operational leverage. REIT conversion is set for September, with significant tax savings and a progressive dividend policy, while a substantial pipeline underpins 50% earnings growth by 2029.
Fiscal Year 2024
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Delivered strong growth in income, earnings, and margin, with net rental income up 14% and EPRA earnings up 21%. Upgraded FY26 EPRA earnings guidance to £60 million, supported by a robust pipeline and ongoing asset rotation. REIT conversion on track for October 2025.