Business
RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2025
Social Housing REIT plc announced its interim results for the six months ended June 30, 2025, revealing a 21.9% increase in adjusted earnings per share to 3.34p. This improvement significantly boosted the adjusted dividend cover to 1.21x. Net rental income rose by 18.9% to £19.79 million, supported by a rent collection rate of 91.4%. Consequently, the dividend target was raised by 3%, with dividends declared at 2.811 pence per share, aligning with the annual target of 5.622 pence. The company's EPRA cost ratio improved to 16.5%, and it maintains a highly attractive debt profile with an average cost of 2.74% on £263.5 million of fixed-rate debt. The portfolio was valued at £611.8 million, reflecting a Net Initial Yield of 6.42%. Disclaimer*
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n\n10 September 2025\n \nSocial Housing REIT plc\n(the \"Company\", \"SOHO\" or, together with its subsidiaries, the \"Group\")\n \nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2025\n \nThe Board of Social Housing REIT plc, the real estate investment trust investing in Specialised Supported Housing (\"SSH\") across the UK, is pleased to announce its unaudited results for the six months ended 30 June 2025. The results demonstrate continued progress in repositioning the Company under a new management team, driving operational momentum and improved financial performance.\n \nChris Phillips, Chair of Social Housing REIT plc, commented:\n\"We continue to make clear strides in improving transparency, increasing rental income and reducing costs for the benefit of our shareholders. Since Atrato's appointment as Investment Manager in January, they have approached the business with a clear goal to improve earnings and ensure the operational performance of the portfolio remains strong.\nThe SSH sector is underpinned by strong fundamentals: a critical societal need, chronic undersupply and long-term inflation-linked income supported by public funding. We were pleased to increase our dividend by 3% - the first rise since 2022. Our increased dividend is fully covered by earnings and has the potential for further growth. Proactive portfolio management within the sector is key and Atrato are implementing this to build long-term portfolio resilience.\nDemand for SSH property in the UK is acute - with around 30,000 additional SSH homes required over the next decade. SOHO is well placed to deliver much-needed socially impactful housing, while providing our shareholders with attractive, sustainable returns.\"\n \n \nHighlights for the Six Months Ended 30 June 2025\n \n· Adjusted earnings per share rose 21.9% to 3.34p (H1 2024: 2.74p) The increased earnings resulted in a significant improvement in adjusted dividend cover to 1.21x (HY 2024: 1.01x; FY 2024: 0.99x).\n· Net rental income increased by 18.9% to £19.79 million compared to H2 2024 (£16.64 million) Underpinned by rent collection of 91.4% in H1 2025 (87.6% as at FY 2024; 90.8% at HY 2024).\n· Dividend target raised by 3% Dividends of 2.811 pence per share were decl...