Supermarket Income REIT eyes strong pipeline after poor interim profit

(Alliance News) - Supermarket Income REIT PLC said on Wednesday it sees a "compelling" acquisition pipeline after reporting slightly lower interim profit and a dip in income.

For the six months that ended December 31, the London-based real estate investment trust investing in property leased to grocery retailers recorded a 1.4% decline in pretax profit to GBP35.7 million from GBP36.2 million a year earlier.

Gross rental income was GBP48.9 million, down 16% from GBP58.2 million.

Supermarket Income REIT improved its interim dividend to 3.09 pence, up 1.0% from 3.06p.

IFRS earnings per share remained flat at 2.9p, while headline earnings per share rose 4.2% to 2.5p from 2.4p.

As at December 31, REIT net asset value per share was 88.4p, down 0.1% from 88.5p at June 30, 2025, and fell 1.8% from 90.0p at December 31, 2024.

But EPRA net tangible asset per share was up 0.5% to 87.5p as at December 31, from 87.1p at June 30, but was down 0.6% from 88.0p at December 31, 2024.

On the first-half performance, Supermarket Income REIT Chief Executive Officer Rob Abraham said the group had delivered a "strong" results.

The company sees a "compelling" pipeline of opportunities of over GBP500 million of high-quality assets in the grocery property investment universe

Supermarket Income REIT reiterated its minimum target dividend of 6.18p for the year ending June 30, up from 6.12p for the 2025 financial year.

Shares in Supermarket Income REIT were down 1.2% to ZAR18.03 on Wednesday in Johannesburg, and were 0.5% lower at 83.30p in London.

By Artwell Dlamini, Alliance News senior reporter South Africa

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