LONDON (dpa-AFX) - Grainger PLC (GRI.L), a provider of rental home services,
Thursday posted a loss before tax of 31.2 million pounds for the first half,
compared with profit before tax of 5.7 million pounds in the comparable period
last year, primarily due to valuation loss on investment property.

Net valuation loss on investment property was 73.8 million pounds for the latest
six months period, compared with 40.2 million pounds a year ago.

Excluding items, the company reported adjusted profit before tax of 44.4
million pounds, down from 47.1 million pounds last year.

Net loss for the period was 22 million pounds or 3.0p per share compared with
profit of 4.7 million pounds or 0.6p per share last year.

Adjusted earnings were 44.4 million pounds or 4.5p per share, down from 47.1
million pounds or 4.9p per share a year ago.

EPRA earnings, however, increased to 24.5 million pounds from 21.9 million
pounds last year.

Net rental income increased 11 percent to 53.2 million pounds from 48 million
pounds in the previous year.

Revenue for the six months period grew to 113.7 million pounds from 110.5
million pounds last year.

The company has announced an interim dividend of 2.54p per share, to be paid on
July 5 to shareholders on the register on May 24.



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