“Edison’s accessible and high-quality research gives us the opportunity to communicate an independent perspective of Tyman to a wide variety of potential stakeholders.”
Currency in GBP
Last close As at 09/06/2023
GBP1.02
▲ −0.40 (−0.39%)
Market capitalisation
GBP1,363m
Primary Health Properties is a long-term investor in primary healthcare property in the UK and the Republic of Ireland. Assets are mainly long-let to GPs and the NHS or the HSE, organisations backed by the UK and Irish governments respectively.
Director, Financials
Harry Hyman
CEO
Richard Howell
CFO
Steven Owen
Chairman
Forecast net debt (£m)
N/A
Forecast gearing ratio (%)
N/A
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | (4.2) | (1.8) | (29.5) |
| Relative | (2.1) | 2.3 | (28.7) |
| 52 week high/low | 147.9p/98.7p |
As expected, Primary Health Properties (PHP) reported a strong financial and operational performance in H122 and is well into its 26th year of unbroken DPS growth. The company is ‘encouraged’ by strengthening rental growth and continues to selectively source accretive investment opportunities. With 95% of borrowings fixed rate or hedged, we expect further growth.
| Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 131.2 | 118.0 | 112.4 | 5.7 | 17.9 | 10.9 |
| 2021A | 136.7 | 126.2 | 141.6 | 6.1 | 16.7 | 9.7 |
| 2022E | N/A | N/A | N/A | N/A | N/A | N/A |
| 2023E | N/A | N/A | N/A | N/A | N/A | N/A |
Get access to the very latest content matched to your personal investment style.
