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IN BRIEF: Life Science REIT net asset value declines in 2022

27th Mar 2023 21:08

Life Science REIT PLC - life science property-focused real estate investment trust - Swings to pretax loss of GBP27.5 million in 2022, from profit of GBP7.7 million in 2021. Gross property income jumps to GBP13.1 million from GBP500,000. However, reports GBP31.3 million fair value loss on investment properties, compared to GBP8.0 million gain in 2021. EPRA net tangible assets per share fall to 90.0 pence from 100.2p. Net asset value per share decreases to 91.3p from 100.2p. "At the end of the group's first full year, I am delighted to say that we have delivered on the promises we set out at our IPO in November 2021. We achieved our goal of fully deploying the IPO proceeds within six months, completed our move from AIM to the Main Market and met our dividend target. Our focus now is on executing our business plans for each of the assets, to drive capital values and income growth whilst embedding rigorous ESG practices in all our operations," Chair Claire Boyle says.

Current stock price: 61.00 pence

12-month change: down 39%

By Eric Cunha, Alliance News news editor

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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