Triple Point Social Housing reports improved net tangible asset per share

(Alliance News) - Triple Point Social Housing REIT PLC on Friday reported improved EPRA net tangible asset per share and total annualised rental income in its half-year report.

The London-based real estate investment trust reported a 111.80 pence net tangible asset per share as at June 30, up from 106.42p on the same date last year.

Total annualised rental income increased to GBP37.4 million from GBP33.4 million, reflecting a 12% jump.

Profit for the period that ended June 2022 surged to GBP24.9 million compared to GBP10.5 million the year before.

Triple Point will pay an interim share of 2.73 pence, up from 2.6p a year before.

The company said: "we are focused on deploying our remaining capital in order to provide additional homes for people with care and support needs."

Chair Chris Phillips said: "Whilst it is important to prioritise managing the risks posed by the current economic environment, we remain convinced that the investment strategy remains well placed to prove its relative resistance to concerns around rising inflation and interest rates. This belief is underpinned by the growing demand for more specialised supported housing throughout the UK."

Shares in Triple Point Social Housing were trading 1.7% higher at 85.20 pence each in London on Friday afternoon.

By Chris Dorrell; chrisdorrell@alliancenews.com

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