Primary Health Properties PLC

Earnings Release • Feb 22, 2018

National Storage Mechanism | Additional information

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RNS Number : 5813F

Primary Health Properties PLC

22 February 2018

Hardman Research - Strong 2017 results and prospects

Strong 2017 results and prospects: Positive 2017 results (dated 15th February) illustrate continuing good momentum. Currently, UK acquisitions achieve average 4.9% net initial yields and thus generate a 1.4% average yield pick-up after operating and interest costs. Investment in Republic of Ireland (RoI) yields a 3.0% pick-up in the net income yield versus cost of debt. Once again, PHP lowered its cost of debt. Also, one example of several, Aviva renewed a £75m loan facility to November 2028 at a fixed interest rate of 3.1%; this renewal results in interest savings of £675,000 p.a. to PHP (beginning November 2017). PHP has excellent assets and a 'following wind'.  

Please click here for the full report:

http://hardmanandco.com/docs/default-source/company-docs/primary-health-properties-documents/22.02.18-strong-2017-results-and-prospects.pdf

To contact us: Hardman & Co 35 New Broad Street London EC2M 1NH www.hardmanandco.com Follow us on Twitter @HardmanandCo	Contacts: Mike Foster +44 20 7194 7622	mf@hardmanandco.com

About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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