Business
Full Year Results
Full Year Results.
About this update from Grit Real Estate Income Group Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 7011Q\n Grit Real Estate Income Group\n 29 October 2021\n \n \n \n \n \n \n \n GRIT REAL ESTATE INCOME GROUP LIMITED\n \n \n (Registered in Guernsey)\n \n \n (Registration number: 68739)\n \n \n LSE share code: GR1T\n \n \n SEM share code: DEL.N0000\n \n \n ISIN: GG00BMDHST63\n \n \n LEI: 21380084LCGHJRS8CN05\n \n \n \n \n \n (\"Grit\" or the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n FULL YEAR AUDITED CONSOLIDATED RESULTS FOR THE YEAR ENDED 30 JUNE 2021\n \n \n \n \n \n \n The board of Directors (the \"Board\") of Grit Real Estate Income Group Limited\n , a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets underpinned by predominantly US$ and Euro denominated long-term leases with high quality multi-national tenants, today announces its audited results for the financial year ended 30 June 2021.\n \n \n Financial highlights\n \n \n \n \n \n \n \n \n \n \n \n \n 30 June 2021\n \n \n \n \n 30 June 2020\n \n \n \n \n Increase/ (Decrease)\n \n \n \n \n \n \n Distributable earnings per share1\n \n \n \n \n US$5.97 cps\n \n \n \n \n US$9.58 cps \n \n \n \n \n (37.7%)\n \n \n \n \n \n \n Dividend per share \n \n \n \n \n US$1.50 cps\n \n \n \n \n US$5.25 cps \n \n \n \n \n (71.4%)\n \n \n \n \n \n \n EPRA NRV per share2\n \n \n \n \n US$102.4 cps\n \n \n \n \n US$117.1 cps \n \n \n \n \n (12.6%)\n \n \n \n \n \n \n EPRA earnings per share \n \n \n \n \n US$2.57 cps\n \n \n \n \n US$3.82 cps\n \n \n \n \n (32.7%)\n \n \n \n \n \n \n Adjusted EPRA earnings per share3\n \n \n \n \n US$4.91 cps\n \n \n \n \n US$9.02 cps \n \n \n \n \n (45.6%)\n \n \n \n \n \n \n Property portfolio net operating income\n \n \n \n \n US$55.3m\n \n \n \n \n US$53.5m \n \n \n \n \n +3.5%\n \n \n \n \n \n \n Gross property income\n \n \n \n \n US$49.2m\n \n \n \n \n US$48.5m\n \n \n \n \n +1.4%\n \n \n \n \n \n \n Contractual rental collected\n \n \n \n \n 92.5%\n \n \n \n \n 88.6%\n \n \n \n \n +3.9ppt\n \n \n \n \n \n \n Loss for the year before taxation \n \n \n \n \n (US$60.9m)\n \n \n \n \n (US$53.9m)\n \n \n \n \n (13.0%)\n \n \n \n \n \n \n EPRA cost ratio (including associates) \n \n \n \n \n 13.2%\n \n \n \n \n 14.6%\n \n \n \n \n -1.4ppt\n \n \n \n \n \n \n Total Income Produci...