Grainger outperforms the UK housing market

A turn-around in the fair value of derivatives hit pre-tax profit at Grainger, the asset and property management focused on the residential sector.

A turn-around in the fair value of derivatives hit pre-tax profit at Grainger, the asset and property management focused on the residential sector.

Profit before tax slumped to £15.2m in the year to March 31st from £65.2m, with much of the reduction due to an £8.8m decline in the fair value of the group's derivatives portfolio; the previous year, the group had marked up the value of its derivatives portfolio by £22.9m.

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