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Grainger reports ongoing operational and sales momentum

Grainger plc, the UK's largest quoted residential property owner, has provided a trading update in advance of its interim results for the six months to 31 March 2011 which will be announced on 19 May 2011.

For the six month period to 31 March 2011, the company expects completed sales from our UK portfolios (UK residential, home reversions and development) to be £89m (2010: £88m). In addition, there were £1m of sales from its German portfolio (2010: £3m).

Sales on vacancy in the wholly owned portfolios have been made at values in excess of September 2010 vacant possession values. Grainger anticipates that the value of the UK portfolios will increase by approximately 2% at the half year.



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