(Alliance News) - Assura PLC on Thursday said it was in a strong financial position and well placed to deliver on its strategic objectives.

In a trading update for the financial first quarter to June 30, the Altrincham-based property business said it continues to look for acquisition opportunities which could be funded through a "variety of sources, including third party capital," whilst operating within its stated loan to value policy range of 40% to 50%.

Assura noted 42 rent reviews were settled in the quarter, covering GBP7.0 million of existing rent and generating an uplift of GBP0.5 million.

The company highlighted an immediate development pipeline of five schemes at a total cost of GBP28 million and a pipeline of 15 further capital asset enhancement projects at a projected spend of GBP9 million over the next two years.

Shares in Assura were down 0.4% at 41.16 pence in London on Thursday morning.

By Jeremy Cutler, Alliance News reporter

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