(Alliance News) - Supermarket Income REIT PLC on Thursday reported a rise in net assets during its first half of trading, with annualised rent rising by more than 50%.
Net assets at December 31 were 42% higher at GBP328.0 million from GBP230.5 million in June.
EPRA net asset value per share was unchanged at 97.00 pence. The real estate investment trust had 337.9 million shares in issue, 40% more than the 239.8 million in June.
Shares were flat at 107.49p each in London on Thursday morning.
Supermarket Income reported pretax profit of GBP7.8 million in the six months to December 31, a 41% climb from GBP5.5 million a year prior.
Annualised passing rent climbed 59% to GBP26.1 million from GBP16.5 million, with EPRA earnings 53% higher annually at GBP7.2 million.
Rental income during the period was 43% higher at GBP11.9 million from GBP8.3 million.
Supermarket Income edged its total interim dividend 3.6% higher year-on-year to 2.9 pence per share from 2.8p.
The company said it is on track to meet its 5.8p full-year dividend target. This would be a 3.6% climb from 5.6p last year.
Supermarket Income said: "The company has performed well over the period, delivering on its stated objectives and we remain confident of delivering attractive returns for our shareholders through a stable and growing income stream with the potential for capital appreciation."
The company added that it has appointed Cathryn Vanderspar as a non-executive director with immediate effect.
Supermarket Income said: "Cathryn has more than 20 years' experience as a real estate lawyer and is head of real estate tax at Travers Smith LLP. Cathryn specialises in direct and indirect real estate with experience in unauthorised, authorised and listed funds, across all types of vehicle and asset classes, including real estate, debt and private equity."
By Eric Cunha; ericcunha@alliancenews.com
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Supermarket Income (SUPR)