Higher rental income boosts Primary Health Properties H1

Healthcare property investor Primary Health Properties almost doubled first-half profits driven by higher rental income.

Net profit for the six months to June 30 increased to £71.4m, up from £39.5m year-on-year, as rental income climbed 4.5% to £67.7m. The company declared an interim dividend of 3.1p per share, up 5.1%.

“As lockdowns and restrictions in the UK and Ireland are lifted, the Covid-19 pandemic continues to highlight the need for modern, integrated, local primary healthcare facilities to help in the provision of Covid-19 vaccines for many years to come while addressing the backlog of procedures missed over the last two years,” said chief executive Harry Hyman.

“The board looks forward to delivering further earnings and dividend growth and remains confident in Primary Health Properties future outlook.”