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Warehouse REIT PLC - London-based industrial warehouse investor - In six months to September 30, swings to pretax profit of £22.0 million from a loss of £46.4 million a year prior. Maintains interim dividend at 3.2 pence per share. Notably, reports a fair value gain on revaluation of investment properties of £6.8 million, swung from a fair value loss of £73.4 million. Finance costs balloon to £13.0 million from £6.0 million. Gross property income edges down to £23.3 million from £24.1 million a year before. Net asset value per share rises to 126.4p at the end of September, from 124.4p at the end of March. Adjusted earnings per share - which the board deems the ‘more relevant indicator of core earnings’ drop 12% to 2.3p from 2.6p a year before. Looking ahead, Chair Neil Kirton says: ‘We firmly believe in the quality of our assets and their potential to deliver an attractive total return over the long-term but are also examining more immediate opportunities to drive returns for shareholders. We set these priorities both as a board and significant shareholders ourselves.’ Current stock price: 83.87 pence, down 3.2% on Wednesday 12-month change: down 27% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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