Grainger posts surge in profit

Kasmira Jefford
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RESIDENTIAL landlord Grainger posted a rise in pre-tax profit and revenue for its last financial year thanks to a jump in the value of its portfolio.

Pre-tax profits surged 26 per cent to £81.1m in the year to 30 September from £64.3m in 2013.

The company said its residential assets “outperformed” as the market value of its portfolio grew 14.6 per cent, compared with the average of 9.5 per cent for the Nationwide and Halifax house price indices.