PHP sees interim profits surge on Irish acquisition, rental growth, and valuation uplift

Primary Health Properties (PHP) has reported a sharp rise in interim pretax profits to £61.9 million, up from £4.5 million, citing valuation gains, rental income growth, and a recent acquisition in Ireland. The healthcare real estate investor also confirmed a slightly smaller-than-expected loan facility to fund its Assura PLC acquisition, securing £1.125 billion in unsecured financing.

The company declared a 3.55p interim dividend—up 2.9%—and noted revaluation gains of £19.8 million, compared to a £40 million loss in the same period last year. Net rental income rose 3.1%, while adjusted EPS ticked up 2.3% to 3.54p.

PHP’s acquisition of Assura is expected to create a larger, lower-cost platform for long-term growth in healthcare infrastructure across the UK and Ireland.

See how PHP’s latest results and Irish expansion are shaping the future of healthcare real estate. Read the full article.