21st Sep 2020 18:13
Real Estate Investors PLC - UK Midlands-focused real estate investment trust - Says it has remained a stable and secure business in light of the coronavirus outbreak. For half-year ended June 30, revenue rises 1.2% to GBP8.2 million from GBP8.1 million, but swings to pretax loss of GBP3.8 million from GBP1.7 million profit. Real Estate Investors EPRA net asset value per share 64.3 pence at June 30, versus 67.4p at December 31. Real Estate Investors cuts interim dividend to 1.0p from 1.88p.
"Importantly, our confidence in the appeal of our assets is unchanged. We continue to see healthy demand across our portfolio and we are reviewing all our assets in light of the government relaxation of the planning laws, which we believe could result in a number of material value creation opportunities across the portfolio" said Chief Executive Paul Bassi.
Current stock price: 28.74 pence
Year-to-date change: down 47%
By Arvind Bhunjun; [email protected]
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