Acquisitions provide boost for Civitas Social Housing interims

(Sharecast News) - Real estate investment trust Civitas Social Housing on Thursday reported a 31% rise in annualised rent roll to £37.2m lifted by acquisitions.The investment property was valued at £678.7m, up from £321m last year. For the six months to end-September 2018, profit before tax came in at £10.6m."The government continues to be supportive of specialist supported housing, with further funding allocated to mental health services," said chairman Michael Wrobel."This increasing financial support is in reaction to continued demand for quality care in the community for people with a number of different care needs.""In the market generally there remains significant uncertainty due to Britain's exit from the EU, which is due to occur in March 2019. The company's exposure to the risk of adverse effects from Britain's exit are limited to an extent by the long tenure of tenants, demand linked to underlying care need and a focus on UK property."