Healthcare provider PHP sees earnings jump 22pc to €84m –

UK group Primary Health Properties (PHP) has seen its earnings jump 22pc last year to £73.1 (€84m).

he performance was driven by a full year’s contribution from the merger with MedicX completed in March 2019, acquisitions, and continued rental growth, according to annual results from the group.

PHP owns 18 primary care centres in Ireland valued at £198m (€221m), including two forward funded developments currently under construction which, if valued as complete, will increase the total asset value to approximately £220m (€246m), according to the company.

The company has six forward funded developments currently on site across the UK and Ireland with a net development cost of £47.4m, including developments at Arklow and Enniscorthy in Ireland.

Last year net rental income at PHP increased 13pc to £131.2m.

Profit for the year was £112m.

The company’s total portfolio, including Ireland and the UK, was valued at £2.6bn at year end. It

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