3rd Aug 2023 17:45
Residential Secure Income PLC - real estate investment trust, focused on retirement living and shared ownership homes - Reports EPRA net asset value of 88.6 pence at June 30, down from 89.0p at March 31, a fall of 4.5%. But adds total EPRA return for the quarter was 1.0% or 0.9p per share. This was driven by a 0.4p, or 0.2%, increase in like-for-like investment property values. Continues to focus on selective disposals of non-core assets, to reduce floating rate debt levels aiming to deliver less volatile and more sustainable income. This would allow company to reposition the dividend for growth in line with underlying inflation-linked rents. Ben Fry, managing director, comments: "Underlying operational performance continues to be robust, with strong rental growth, both on an absolute and a like-for-like basis. We continue to balance rent increases and returns in a sustainable manner for both residents and shareholders, which is evident through our high occupancy and strong demand." Read More
