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Assura confident on FY after good first quarter progress

By Frank Prenesti

Date: Tuesday 02 Jul 2019

(Sharecast News) - Assura said it remained confident in its full year outlook after reporting good first quarter progress, driven by its pipeline of developments and acquisitions.
The primary care provider said it had expanded the value of its immediate development pipeline to £77m, with the acquisitions pipeline increasing to £64m, up from £41m at March 2019.

The total immediate pipeline value, including on-site developments, of £199m was up from £142m at the year end, the company said in a trading statement.

"Assura made good progress in the first quarter, further enhancing our high-quality portfolio of primary care properties, said chief executive Jonathan Murphy.

"Our immediate pipeline of developments and acquisitions has never been stronger, while we disposed of 12 properties that were held for sale for cash proceeds of £17m which was above book value."

"In May, we completed the purchase of primary care developer GPI and welcomed a talented new team into Assura. The acquisition boosted our immediate and extended development pipeline by an initial £92m."

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