Grainger said it was confident of the UK residential property market providing good medium-term opportunities as it reported a rise in full-year gross net asset value per share.

The company said on Thursday gross net asset value per share rose 8.2 percent to 216 pence for the year to end-September, up from 200 pence in the previous year.

Profit before tax was 26.1 million pounds for the year, compared to a loss of 20.8 million pounds in 2010.

Our business has continued to demonstrate resilient performance... As a result, whilst being mindful of the environment, we are confident the residential market will provide good medium-term opportunities, Chairman Robin Broadhurst said in a statement.

The company said it secured 1.2 billion pounds of new debt over the course of the year, which brought its drawn debt's average maturity to 5.9 years from 3.6 years in the previous year.

It added it had cut its net debt by over 100 million pounds in the second half of the year and anticipates a further reduction in its requirement for debt in the near to medium term as it looks supplement its profits with fee income growth.

The company also said it paid out a final dividend of 1.30 pence per share.

(Reporting by Brenda Goh; Editing by Mike Nesbit)