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Custodian REIT plc : Final Results
Custodian REIT plc : Final Results.
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \nCustodian REIT plc (CREI)Custodian REIT plc : Final Results06-Jun-2019 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n \n\n \n\n6 June 2019\n\n \n\n \n\nCustodian REIT plc\n\n \n\n(\"Custodian REIT\" or \"the Company\")\n\n \n\nFinal Results\n\n \n\nCustodian REIT (LSE: CREI), the UK commercial real estate investment company, today reports its final results for the year ended 31 March 2019.\n\n \n\nFinancial highlights and performance summary\n\n \n\nNAV per share total return[1],* of 5.9% (2018: 9.6%) comprising 6.1% income (2018: 6.2%) and a 0.2% capital decrease (2018: 3.4% capital increase)\nEPRA[2] earnings per share[3],* of 7.3p (2018: 6.9p)\n Basic and diluted earnings per share[4] of 6.0p (2018: 8.9p)\n Portfolio value of £572.7m (2018: £528.9m)\n Profit before tax down 27% to £23.6m (2018: £32.4m) primarily due to a £8.9m aggregate property valuation decrease[5]\n £13.4m[6] of new equity raised at average premium of 11% to dividend adjusted NAV*\n 2020 target dividend per share* increased 1.5% to 6.65p (2019: 6.55p)\n £55.5m[7] invested in 11 property acquisitions, £2.5m capital expenditure incurred primarily on one pre-let development and two significant refurbishments\n £6.4m property valuation uplift from successful asset management initiatives\n £5.3m property valuation decrease due to company voluntary arrangements\n £4.3m profit on disposal of three properties for an aggregate consideration of £15.4m \n \n\n\n  \n \n \n 2019\n \n \n 2018\n \n \n change\n \n \n Return\n \n \n  \n \n \n  \n \n \n  \n \n \n NAV per share total return*\n \n \n 5.9%\n \n \n 9.6%\n \n \n -3.7%\n \n \n Share price total return[8],*\n \n \n 4.2%\n \n \n 6.7%\n \n \n -2.5%\n \n \n Dividend cover[9],*\n \n \n 110.4%\n \n \n 105.5%\n \n \n 4.9%\n \n \n  \n \n \n  \n \n \n  \n \n \n  \n \n \n Dividends per share[10] (p)\n \n \n 6.55\n \n \n 6.45\n \n \n 1.5%\n \n \n  \n \n \n  \n \n \n  \n \n \n  \n \n \n Capital values\n \n \n  \n \n \n  \n \n \n  \n \n  \n \n NAV (Â...