19th Feb 2026 12:33
(Alliance News) - Irish Residential Properties REIT PLC on Thursday reported a return to profit in 2025 after valuation yields stabilised, driving fair value of assets back up after a heavy reduction in 2024.
Gross revenue from investment properties remained broadly stable at EUR85.5 million, a 0.2% increase from EUR85.3 million in 2024, with net rental income increasing slightly thanks to a margin increase driven by operational efficiencies.
The firm swung to pretax profit of EUR49.7 million in 2025 from a loss of EUR6.7 million the year prior. This was led by an increase in the fair value of the company's investment properties, up to EUR17 million from a EUR33.7 million loss the previous year.
The Dublin-based provider of rental housing registered adjusted earnings, excluding fair-value asset movements, of EUR32.8 million, which was up 7.4% from EUR30.5 million the previous year, with EUR3.4 million in gains on the disposal of 41 properties.
Irish Residential also reported net asset value of 131.7 cents per share, up 4.4% from 126.2p in 2024. It declared a final dividend of 2.53 cents per share, bringing the 2025 total dividend to 4.89 cents, which is up 20% from 2024's 4.08 cents and in line with its policy to pay out 85% of rental income.
The company said it will continue to focus on optimising the operational performance of the business, "against the backdrop of positive regulatory change and improving market conditions". It added that it is "well positioned to take advantage of tailwinds to drive earnings growth and enhanced shareholder value".
Chief Executive Officer Eddie Byrne said: "We advanced our strategic priorities at pace, leveraging our operational platform to drive significant efficiency gains and achieving asset disposals at more than a 25% premium to book value. Throughout the year, we remained disciplined in our capital allocation decisions, executing on a share buyback programme, with our focus firmly on creating shareholder value and managing loan-to-value."
He added: "We are now actively pursuing re-investment opportunities to enhance the portfolio by investing in higher quality and higher yielding assets. With an improving regulatory backdrop and market conditions, we enter 2026 with strong momentum and clear confidence in our ability to build on this progress."
Irish Residential shares were unchanged at EUR1.09 on Thursday at midday in London.
By Martin Miraglia, Alliance News reporter
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