NewRiver REIT "well positioned" for growth after "year of delivery"

(Alliance News) - NewRiver REIT PLC on Tuesday reported increased earnings for its latest financial year.

The London-based developer and manager of retail properties said pretax profit increased 17% to GBP31.3 million in the 12 months ended March 31, from GBP26.7 million the year before.

Group revenue increased to GBP110.8 million from GBP79.6 million. Operating profit increased to GBP54.5 million from GBP42.5 million.

Chief Executive Allan Lockhart said the period was a "year of delivery", noting that NewRiver completed the integration of Capital & Regional. NewRiver acquired the community shopping centres investor in December, 2024, for GBP147 million.

NewRiver's diluted net asset value per share increased to 106 pence as of March 31, from 102p one year prior. Basic NAV per share rose to 106p from 103p, while EPRA net tangible assets increased to 105p from 102p per share.

The loan-to-value ratio was 40% as of March 31, down from 42% one year prior, which NewRiver said was in line with guidance.

The trust declared a final dividend of 3.6p, up 2.9% from 3.5p for financial 2025. The total payout for the year increased 3.1% to 6.7p from 6.5p.

Shares in NewRiver REIT were down 0.4% at 76.68p each on Tuesday afternoon in London.

"FY26 was our first full year with Capital & Regional, and it has delivered: integration is complete, synergies have been realised and the enlarged and improved portfolio is generating positive operational momentum and continued valuation progress," commented Lockhart. "We have backed that performance up with disciplined capital allocation - disposing of assets at book value, completing an accretive 10% share buyback and refinancing to a fully unsecured debt structure with extended maturities.

"Our focus is now on growth, for which we are well positioned and confident of delivering for our shareholders."

By Emma Curzon, Alliance News reporter

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