PICTON PROPERTY INCOME LTD (PCTN) — Half Year Results

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the PCTN PROPERTY INCOME half year results investor presentation. Call PICTON ANSWER SESSION:] to do so. Before Before we we begin, I would like to submit the following poll, and I would now like to hand you over to CEO Michael Morris. Good afternoon to you. Thank you, and good afternoon, everybody. My name is Michael Morris. I'm the chief executive of PICTN. I've been involved with the group since launch and sit on the main board alongside Sarah. I'm Sarah Johnston. I joined PICTN in 2024, and prior to that, I've spent the last twenty years or so in the real estate sector in private equity and institutional fund management houses. So today, we are going to give you an overview of our half year results that were published this morning. We'll give our thoughts on The UK commercial property market. We'll talk in a bit of detail about what's been happening in the portfolio, the activity, and also the outlook looking forwards and and the pipeline. After that, we'll have the opportunity for q and a. So the results today, I think, were really good, recognizing the underlying market conditions we're operating in. Our focus on shareholder value through our buyback program has seen positive results within the underlying portfolio. We've grown the the the rental value of our assets over the period. We've seen a positive total return, and we've taken more activity to reposition the portfolio with a view to reducing office exposure and at the same time growing earnings. And all of these areas we'll talk through in a bit more detail, but firstly, we'll look at the results themselves. Thank you. So for the six months, we've delivered positive financial performance with increased profit and increased total return compared to the prior two comparative ...