(Alliance News) - Drum Income Plus REIT PLC on Monday said the Covid-19 pandemic hurt its performance in its most recently ended financial year.
The real estate investment trust said net asset value per share as at September 30, 2020, was 73.01 pence per share, a fall of 14% from the prior year, and a decrease of 7.9% on the NAV as at March 31, 2020.
The company said it has paid two interim dividends of 1.5p per share during the first half of the year, but the two planned interim dividends due in the second half year were postponed in order to preserve cash as a result of the economic damage caused by the global pandemic.
Going forward, Drum Income Plus REIT said, with the uncertainty remaining over post-deal Brexit outcomes adding to the economic damage which will continue to be caused for some time by the pandemic, there will still be real uncertainty in markets around the world, including real estate.
Despite that, the company said it owns a high class portfolio of property assets which are the subject in many cases of long term leases, and therefore it remains confident that it will in time achieve its primary aim of providing satisfactory long term returns to its shareholders.
Drum Income Plus REIT shares were untraded in London on Monday, last closing at 32.00p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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