Join our community of smart investors

Grainger is performing well

Britain's largest listed owner of housing continues to sell homes profitably and at an impressive rate
August 9, 2012

Grainger continues to make steady progress with its recovery plan. Net debt has fallen by £113m since last September - although it remains considerable at £1.34bn.

IC TIP: Buy at 97p

The business has generated cash with some impressive operational results. Rents for the first 10 months of the year were up 7.2 per cent, while property sales were 13 per cent higher, at £202m.