3
MKS / NOV 2015
INTRODUCTION
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Adjusted profit before tax up 33.8% to £3.96m (September 2014: £2.96m)
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EPS (EPRA) up 32.4% to 3.9pps (September 2014: 2.9pps)
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NAV (EPRA) up 4.1% to 281pps (March 2015: 270pps)
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Financial gains
– Loan structure re-financed
– Gross income up 21% to £10.17m over period
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Portfolio transformation
– Acquisition of Brunel Road, Theale in April 2015, taking total acquisitions since
£86.7m Capital Raising (January 2014) to eight
– £1.72m (8.5%) growth in contracted rental income (y/y)
– Active refurbishment and development programme
– £5.55m (125%) increase in portfolio reversion (y/y)
– 45% portfolio reversion
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London and South East market outlook remains positive
Growth strategy benefits increasingly apparent
