3rd Sep 2021 11:03
(Alliance News) - Triple Point Social Housing REIT PLC on Friday reported a rise in interim profit, with its portfolio growing in value, and remains confident of its financial performance returning to levels seen over the last four years.
At June 30, the London-based real estate investment trust's EPRA net tangible asset per share stood at 106.42 pence, unchanged from the end of 2020.
Total annualised rental income was GBP33.4 million in the first half, up from GBP28.0 million the year before. Pretax profit rose to GBP10.5 million from GBP9.0 million.
The firm's portfolio was valued at GBP596.3 million at the end of the first half, up from GBP571.5 million six months earlier and up from GBP510.3 million twelve months prior.
Triple Point declared an interim dividend of 2.60p, a hair higher from 2.59p a year before.
"With the worst of the pandemic hopefully behind us, we are redoubling our efforts to meet the other challenges that society faces, above all the desperate lack of housing in this country and the looming challenge of climate change," Chair Chris Phillips said.
He continued: "As long as we remain focused on the fundamentals, we will continue to achieve the sort of social impact and financial performance that we have achieved over the last four years. Those fundamentals are investing according to local need, thinking for the long-term, and above all ensuring that the needs of our residents inform everything we do. In our investment strategy, the strength of our financial performance and the strength of our social impact go hand in hand."
Shares in Triple Point Social Housing REIT were down 0.4% at 105.60 pence in London on Friday.
By Paul McGowan; [email protected]
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