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Grainger 'optimistic'.

RESIDENTIAL property owner and manager Grainger has reported group sales of PS149.3m for the four months to January 31, 2014, leaving the business 'cautiously optimistic' about the future.

The Newcastle-headquartered company reported that house-building activity has increased over recent months, helped by positive housing market sentiment, the UK Government's Help to Buy scheme and increased mortgage lending.

The figures are an increase on the previous year when Grainger reported sales of PS64.6m for the same period in 2013. It said the rise was down to the PS88m sale of its interest portfolio on 1,000 homes to Clifden Holdings earlier in the month.

Andrew Cunningham, chief executive of Grainger, said: "We currently see good market dynamics which provide our business with a positive backdrop going forward as we focus for this year on investment and generating new business opportunities. "We are well positioned to take advantage of the current rising market."
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Feb 7, 2014
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