Grainger resilient despite tough backdrop – MoneyWeek

DATE : 2020年2月22日 By :

UKmarginsonsalesofvacantpropertiesintheten-monthperiodimprovedfrom38。

7%to39。

8%。

Meanwhile,thesalespipelineremainsstrongat£264。

5m,upfrom£235。

7mattheendofJuly2011。

Graingersaiditwasalsomakingsignificantheadwayinitsdebt-reductionprogramme,withnetdebtfallingby£113minthetenmonthssinceSeptember30th,from£1,454mto£1,341。

ThisagainreinforcesthecontinuingabilityoftheGrouptogeneratecashfromitsoperations。

Thegroupsaidthatthemacro-economicenvironmentintheUKandEuropeismorefragilethanwhenitlastupdatedthemarketinMay:AthirdsuccessivequarterofnegativeUKGDPgrowthandthecontinuingissuesintheEurozoneareofparticularnote。

GeneralUKhousepriceshaveshownaslightdecreaseinrecentmonths,butanumberoffactorspositivelysupportpricesinLondonandtheSouthEastwherewehavepositionedalmosttwothirdsofourUKportfolio。

InGermanythehousingmarkethasbeenmostrobustinthestrongereconomicconurbationsandourportfoliohasbenefitedfromitsWesternandSoutherngeographicalbiasasshownbysalesintheperiodatorabovevaluation。

BC

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