NEWRIVER REIT PLC (NRR) — Results for the six months ended 30 September 2025

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the NEWRIVER REIT PLC Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and they can be submitted at any time by the Q and A tab situated in the right corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question received in the meeting itself. However, the company can review the questions for today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to CEO, Alan Locker. Good morning to you, sir. Thank you, Alessandro. Well, good morning, everyone. We're delighted to take you through our half year results, we announced on Tuesday. I'm pleased to say that New River continues to deliver disciplined growth underpinned by an experienced and scalable platform. Our focus remains on sustainable expansion by maximizing value from our assets and ensuring we're ready to act upon accretive opportunities as they arise with capital discipline at the heart of our strategy. We recognize that our share price does not reflect the underlying progress that we have made, and we share the frustration of our shareholders. That said, we are confident in our platform, our assets, our strategy, and the market outlook as we continue to build operational momentum. The first half was a period of strong operational performance during which we completed the integration of the capital regional portfolio. We unlocked net annual synergies of £6,200,000 and grew cash profits by 31%, enabling an increase in our first half dividend to 3.1p per share, which is fully covered. We maintain strong occupancy and our leasing activity has been r...