Interim Results Presentation (30th September 2016) - page 3

MKS / NOV 2016 /
3
INTRODUCTION
STRATEGIC PROGRAMME ON TRACK
INCOME GROWTH FROM RECENT ACQUISITIONS AND REFURBISHMENTS
Annualised rental income: up 6.4% (£1.35m) to £22.45m pa (March 2016: £21.10m pa)
Gross rents received: up 2.4% to £10.42m (six month period to Sept 2015: £10.17m)
Adjusted profit before tax: up 11.8% to £4.42m (Sept 2015: £3.96m)
Earnings per share (EPRA): up 11.3% to 4.3 pps (Sept 2015: 3.9 pps)
PORTFOLIO REVERSION A STEP CLOSER
Office schemes completed at Reading and Redhill, with a combined ERV of £2.61m pa
Initial portfolio yield of 5.1%, with £9.77m pa (44%) reversionary potential, taking the portfolio yield to 7.3%
MARKET STABILISED POST-BREXIT
Portfolio ERV: up 2.4% to £32.76m pa (March 2016: £31.44m pa)
Valuation: 0.7% deficit (£3.07m) to £413.88m
EPRA NAV: down 2.0% to 295 pps (March 2016: 301 pps)
DIVIDEND
2.7 pps interim (September 2015: 2.7 pps)
1,2 4,5,6,7,8,9,10,11,12,13,...35
Powered by FlippingBook