Picton Property Income - Record FY22 with positive outlook

Picton Property Income’s FY22 total earnings of £147m were the strongest since the company launched in 2005. Income gains and normalised rent collection underpinned DPS growth and while strong valuation uplifts mirrored broad market trends, Picton continued to build on its long-term record of portfolio outperformance. Returns are likely to moderate from the exceptional level of FY22, but Picton remains positive despite global economic and political challenges. The prospects for further uplifts in occupancy and rents are good with scope for accretive external growth.