Half-year Report

Ground Rents Income Fund plc

("GRIF" or the "Company")

HALF YEAR RESULTS

For the six months ended 31 March 2016

Ground Rents Income Fund plc (LSE: GRIO), a listed real estate investment trust (REIT) investing in UK ground rents, announces its unaudited half year results for the six months ended 31 March 2016.

Highlights

· Portfolio value of £111.5 million (30 September 2015: £104.2 million)

· Net assets of £110.7 million (30 September 2015: £106.2 million), including revaluation gain during the period of £4.3 million.

· NAV per ordinary share of 118.9 pence (30 September 2015: 114.3 pence)

· Revenue of £2.3 million (H1 2015: £2.0 million)

· Profit before tax of £6.1 million (H1 2015: £3.3 million), including £4.3 million revaluation gain (H1 2015: £1.8 million)

· Basic earnings per share of 6.58 pence (H1 2015: 3.87 pence)

· Diluted earnings per share of 6.52 pence (H1 2015: 3.86 pence)

· Two interim dividends paid of 0.952 pence per share for period to 31 December 2015 and 0.9646 pence per share for the period to 31 March 2016.

· £2.0 million invested during the period

James Agar, Investment Director of Brooks Macdonald Funds, Investment Adviser to GRIF, added:

"As investors look for defensive stability within the markets following a sustained period of volatility since the start of 2016, many of the specialist REITs continue to perform well whilst maintaining their premium to net asset value. We believe the UK will see interest rates staying low for longer, with gilt and bond yields following a similar trend, subject to a vote to remain in the forthcoming EU referendum.

GRIF offers investors protection against short term deflationary pressures, as within its ground rent portfolio the income is upwards only and largely index-linked. Ground rents provide stable and secure income streams, which is clearly attractive in the context of the recent market volatility, whilst the sustained performance of the NAV is reflected in the increasing trading activity in GRIF's stock."

A copy of the Half Year Consolidated Financial Report, for the six months ended 31 March 2016, can be accessed in the link below:

http://www.rns-pdf.londonstockexchange.com/rns/2505Z_-2016-5-25.pdf 

Contacts:

END OF ANNOUNCEMENT