Business
Year End Results
Year End Results.
About this update from Schroder Real Estate Investment Trust Ltd
[{"type":"text","content":"\n \nRNS Number : 7986O Schroder Real Estate Inv Trst Ld 22 May 2018 \n\nFor release 22 May 2018\n \nSchroder Real Estate Investment Trust Limited\n(\"SREIT\"/ the \"Company\" / \"Group\")\n \nFULL YEAR RESULTS FOR THE YEAR ENDED 31 MARCH 2018\n \nPROFIT FOR THE YEAR INCREASED 48% TO £33.8 MILLION. WINNING CITIES FOCUS AND ASSET MANAGEMENT DRIVING OUTPERFORMANCE\n \nSchroder Real Estate Investment Trust, the actively managed UK focussed REIT, today announces its audited full year results for the 12 months ended 31 March 2018.\n \nFinancial highlights for the 12 months ended 31 March 2018\n \n· Net Asset Value ('NAV') total return of 10.5% (31 March 2017: 7.2%).\n· 6.4% increase in NAV per share for the year to 68.2 pence per share (pps).\n· EPRA earnings, adjusted for abortive transaction costs, of £14.1 million (31 March 2017: £13.8 million) which reflects a dividend cover of 109%.\n· Profit for the year increased 48% to £33.8 million (31 March 2017: £22.8 million).\n· Low Debt with Loan to value ('LTV') of 25.3% on a long-term debt (31 March 2017: 26.0%).\n \nOperational highlights\n \n· Sustained outperformance of real estate portfolio with a total return of 11.8% versus the MSCI/IPD Benchmark Index of 10.7% resulting in annualised outperformance of 1.0% over the past 12 months, 2.3% over 3 years and 1.4% since IPO in July 2004.\n· Portfolio supported by strong fundamentals with 93% of the portfolio located in Winning Cities.\n· Positive weighting to office and industrial sectors of 64%, and no City of London or Shopping Centres. \n· Reversionary income yield of 7.0%, compared with the MSCI Benchmark of 5.7%, should lead to stronger income growth over the next 12-24 months.\n· Identified programme of asset management initiatives of approximately £10 million of capital expenditure initiatives over the next 12 months to generate attractive income returns.\n· Over the course of the financial year sales were completed at a premium to their valuations, and the C...