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Home REIT posts maiden interim profit; sticks to dividend targets
StockMarketWire.com
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Property investor Home REIT reported a maiden interim pre-tax profit after the value of its assets rose.
Pre-tax profit for the period from incorporation on 19 August to 28 February amounted to £11.4 million.
The company's net asset value and EPRA net tangible asset per share has increased to 102.8p at 28 February, up 4.9% from its IPO in October.
Home REIT paid a first interim dividend of 0.83p per share in March and said it was on track to pay a minimum total dividend of 2.5p for the period from IPO until 31 August.
It was also on track for a minimum total dividend of 5.5p per share for the financial year ending 31 August 2022, in line with its stated target at launch.
'The group has performed strongly since the company's IPO in October 2020, effectively and responsibly executing on its stated objectives and in many areas exceeding its original expectations,' chairman Lynne Fennah said.
'The company is continuing to build responsibly on this sustainable growth momentum and expects its pipeline of attractive investment opportunities to further enhance its portfolio.'
At 8:58am: (LON:HOME) Home Retail Group PLC share price was 0p at 102.2p
Story provided by StockMarketWire.com
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