SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED (SREI) — Full year results for the year ended 31 March 2026

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to the SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED investor presentation. Questions are encouraged. They can be submitted at any time via the q and a tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and will publish your responses where it's appropriate to do so on the INVESTMENT company platform. Before we begin, we will decide to submit the following poll. I would now like to hand you over to fund manager, Nick Montgomery. Nick, good afternoon, sir. Good afternoon, Jake, and good afternoon, everybody else. Thank you very much for joining us on another hot afternoon. So your attention is appreciated. So as Jake said, Nick Montgomery, I'm joined with my camanager, Bradley. So we're here, obviously, firstly, to give you an overview of our results to March 31. These are slightly later than previous years, partly in connection with the ongoing proposed consortium offer for Picton. And we'll come back to that in a moment, but we'll follow our usual format. I'll give you an overview of the results, a bit on the market, and then I'll probably then provide a bit more context around how we're implementing our strategy, and where we see, the outlook in terms of, in terms of further activity and impacts on income. So, moving to, the the summary, I guess, the the header remains unchanged, I'm pleased to say, and that, we continue to enjoy a high income return that we're growing, and we continue to benefit from a low debt cost. And we think both of those things, certainly set in the context of the pig...