9th Aug 2023 10:42
(Alliance News) - Impact Healthcare REIT PLC on Wednesday said first half revenue rose as it also upped its interim dividend.
The London-based owner of care homes and other healthcare properties in the UK reported net rental income of GBP22.7 million in the first half of 2023, up from GBP19.6 million a year ago. The increase in revenue was supported by rent increases and stable rent yields, the company said.
The firm posted pretax profit of GBP27.6 million, increasing from GBP27.3 million a year ago.
Impact said net asset value per share at June 30 was 113.64 pence, down from 116.18p a year ago, but increasing 3.2% from 110.17p six months ago. The firm said this reflects shares issued to part fund its acquisition of six care homes.
The firm declared a second-quarter dividend of 1.69 per share, bringing its total interim dividend to 3.39p per share, which it said is in line with its target to increase its total dividend by 3.5% to 6.77p per share for the full-year.
Looking ahead, Impact said it is well-positioned to deliver in the long term, adding that it expects to see further growth opportunities as economic uncertainty settles.
Chair Simon Laffin said. "We are continuing to deliver a resilient performance in a challenging economic environment. In the first half of the year, rent increases and a stable rental yield drove a 2.4% increase in like-for-like investment property value."
Impact Healthcare shares rose 0.4% to 90.37 pence each on Wednesday morning in London.
By Harvey Dorset, Alliance News reporter
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