Business
Results for the half year ended 31 December 2022
Results for the half year ended 31 December 2022.
About this update from Alternative Income Reit Plc
[{"type":"text","content":"\n \n \n THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.\n \n \n \n \n \n 6 March 2023\n \n \n Alternative Income REIT plc\n \n \n (the \"Company\" or the \"Group\")\n \n \n INTERIM REPORT AND FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2022\n \n \n Resilient portfolio providing secure, inflation-linked long-term income\n \n \n Remain on track to deliver target annual dividend of at least 5.7 pence per share for the financial year ending 30 June 2023\n \n \n The Board of Directors of Alternative Income REIT plc (ticker: AIRE), the owner of a diversified portfolio of UK commercial property assets predominantly let on long leases with index-linked rent reviews, is pleased to announce\n its interim report and financial statements for the half year ended 31 December 2022.\n \n \n \n \n \n \n Simon Bennett, Non-Executive Chairman of Alternative Income REIT plc, comments:\n \n \n \n \"The half year results reflect the resilience of the Company's portfolio, and the Company remains on track to deliver the Board's previously announced target annual dividend of at least 5.7 pence per share1 (\"pps\"), which\n is expected to be fully covered.\n \n \n \n \n \n Whilst not immune from the headwinds affecting the UK and wider global economy at the present time, 96% of the Group's portfolio benefits from index-linked rent reviews. Combining this with a strong balance sheet, modest overheads and low fixed borrowing costs until 2025, helps ensure the Company is well positioned to ride-out successfully the current economic storm and to continue to deliver attractive, secure and progressive income to our shareholders.\"\n \n \n \n \n \n \n Financial\n \n \n Highlights\n \n \n \n \n \n \n \n \n \n At 31 December 2022 (the 'Period End')\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 31 December 2022\n \n \n \n \n (unaudited)\n \n \n \n \n \n \n 30 June 2022\n \n \n \n \n (audited)\n \n \n \n \n \n \n \n \n \n \n \n Change\n \n \n \n \n \n \n \n Net Asset Value ('NAV')\n \n \n \n \n £67.9 million\n \n \n \n \n £77.6 million\n \n \n \n \n -12.5%\n \n \n \n \n \n \n NAV per share\n \n...