CSH.L Share News (CSH)

(Sharecast News) - Real estate investment trust Civitas Social Housing said on Monday that rents were collected "as planned" in the six months ended 30 September amid a "very low incidence of Covid-19" across its portfolio.
Civitas reported a rental income of £24.1m for the period, up 6.17% year-on-year, while the group's annualised rent roll rose 6.45% to £49.5m.

Earnings per share increased 0.36% to 2.81p, while EPRA earnings shot up 8.39% to £15.5m.

The FTSE 250-listed firm, which said it has witnessed "minimal operational disruption" as a result of the Covid-19 pandemic, reported a 6.77% increase in its IFRS property valuation to £898.5m and a 0.73% bump in its diluted IFRS net asset value per share to 108.01p.

Operational cash flow grew from £16.9m to £19.5m as Civitas' diversified portfolio grew to 618 properties, providing homes to 4,292 people.

Chairman Michael Wrobel said: "During the period, CSH has continued to cement its position as the market leader in care-based housing investment and management, delivering sustainable investor returns and outstanding community-based housing whilst also protecting the public purse.

"We see compelling opportunities for growth, and we look forward to the future with confidence."

As of 0900 GMT, Civitas shares were up 0.98% at 103.0p.