Business
RESULTS FROM INCORPORATION TO 31 DECEMBER 2017
RESULTS FROM INCORPORATION TO 31 DECEMBER 2017.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 4727G Triple Point Social Housing REIT 02 March 2018 \n\nTHIS ANNOUNCEMENT HAS BEEN DETERMINED TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.\n \n2 March 2018\nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\nRESULTS FOR THE PERIOD FROM INCORPORATION TO 31 DECEMBER 2017\nThe Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce its audited results for the period from incorporation on 12 June 2017 to 31 December 2017.\n \n\n\n\n\n\n\n\n31 December 2017\n\n\n\n\n\n\n\n\n\n\n\n\nEarnings per share (basic)\n \n\n\n3.94p\n\n\n\n\nIFRS NAV per share\n\n\n100.84p\n\n\n\n\nTotal annualised rental income\n\n\n£7.8m\n\n\n\n\nValue of the portfolio\n- IFRS basis \n- Portfolio valuation basis\n \n\n\n \n£137.5m\n£146.9m\n\n\n\n\nWeighted average unexpired lease term\n\n\n30.6 yrs\n\n\n\n\nDividend to be declared per share\n\n\n1.00p\n\n\n\n\nFinancial highlights\n· IFRS net asset value per share of 100.84 pence at 31 December 2017, an increase of 2.9% from the 98.0 pence at the time of the Company's initial public offering (\"IPO\") in August 2017.\n· Portfolio independently valued as at 31 December 2017 at £137.50 million on an IFRS basis, reflecting a valuation uplift of 4.37% against the portfolio's aggregate purchase price (including transaction costs). The properties have been valued on an individual basis. \n· The Group's assets were valued at £146.9 million on a portfolio valuation basis, reflecting a portfolio premium of £9.4 million against the IFRS valuation. A portfolio valuation basis assumes the portfolio of properties is held in a single company holding structure, is sold to a third party on arms-length terms, and attracts purchaser's costs of 2.3%.\n· The portfolio's total annualised rental income was £7.8 million as at 31 December 2017.\n· Operating profit for the period was £5.6 million.\n· Ongoing Charges Ratio of 1.34% as ...