19th Oct 2020 13:08
(Alliance News) -Â McKay Securities PLC on Monday said rent collection for the March and June quarters has increased and monthly collections are strong.
The real estate investment trust is focused on office, industrial and logistics markets in the south east of England and London. It said 70% of September quarter rent has been received, increasing to 87% on receipt of agreed monthly payments.
Monthly collections "remain strong", McKay added, providing confidence for October and November collections.
For the June quarter, 94% of rent has been received - versus 74% reported in July - rising to 97% on receipt of deferred payments. For the March quarter, 87% of rent has been received - against 82% reported in July - rising to 98% on receipt of deferred payments.
"Despite the ongoing challenges of Covid-19, we have had an active and positive quarter which leaves the Company in a strong financial position in the face of increasing economic uncertainty," said Chief Executive Simon Perkins.
Shares in McKay were up 1.3% at 194.50 pence in London on Monday.
By Lucy Heming;Â [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
MCKS.L