23rd Mar 2022 17:42
PRS REIT PLC - real estate investment trust focusing on new-build family homes for the private rental market - Revenue for six months to end of December grows 86% year-on-year to GBP19.9 million, and net rental income rises 95% to GBP16.4 million. Pretax profit jumps to GBP38.6 million from GBP20.3 million. Net assets grow 17% to GBP572.9 million at end of December from GBP490.3 million at June 30, and EPRA net tangible assets per share rises 5% to 104.3p from 99.0p. Says rental demand remains "very strong", underpinned by nationwide undersupply of quality rental housing for families. "We are confident that the company is on track to achieve market expectations for the year, and continue to see significant opportunity in this highly attractive market segment. The PRS REIT's first mover status means it is well-positioned for further progress," says Chair Steve Smith. Read More
