Grainger improves NAV as subdued market persists

FTSE 250 residential property owner-manager Grainger improved annual gross net asset value per share but cautioned it expects subdued market conditions to persist through 2013.

FTSE 250 residential property owner-manager Grainger improved annual gross net asset value per share but cautioned it expects subdued market conditions to persist through 2013.

The Newcastle upon Tyne headquartered firm said gross NAV increased 3.2% to 223p for the year ended September 30th 2012. The group posted a loss before tax of £1.7m, after derivative movements of £31.2m, compared to a £26.1m profit a year earlier.

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