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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Walls & Futures REIT plc | AQSE:WAFR | Aquis Stock Exchange | Ordinary Share | GB00BD04QG09 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.00 | 5.00 | 15.00 | 10.00 | 10.00 | 10.00 | 0.00 | 06:56:32 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMWAFR
RNS Number : 5443V
Walls & Futures REIT PLC
03 November 2017
Walls & Futures REIT plc
(Epic: WAFR)
Half Year Results
for the period to 30 September 2017
Walls & Futures REIT plc ("WAFR"), the Real Estate Investment Trust and Social Stock Exchange member investing in UK residential property, focusing on the Supported housing sector, is pleased to announce its Interim results for the six months to 30(th) September 2017.
Financial Highlights:
-- Net Asset Value ("NAV") improved to GBP3,104,354 (30 September 2016 - GBP2,234,469) -- NAV per share improved by 4.4% over the 6 month period to 94p per share; -- Net Profit for the period of GBP127,384 (30 September 2016 - loss of GBP29,162);
Operational Highlights
-- Delivered first Supported housing project to budget and on time; -- Joined the Social Stock Exchange; -- Developed healthy pipeline of projects for delivery
Joe McTaggart commented:
"We have had an active six months implementing our strategy of focusing on the UK Supported Housing Sector successfully delivering our first project which has been let on a 25-year full repairing and insuring lease with rents adjusted in line with inflation ('CPI') to a major charity. We have also actively engaged with local authorities and, with an understanding of their unique requirements, are working with our strategic partners to develop tailored supported housing within a sustainable funding framework.
Our aim is to start delivery of this pipeline of projects in early 2018, which will create much needed homes for some of the most vulnerable in society and add to our portfolio of high yielding residential properties, and deliver secure long-term income.
To support our growth plans we will be seeking to raise further capital shortly."
Consolidated Income Statement
For The Period 18(th) March 2016 to 30(th) September 2016
6 Months to 18 March 30 September 2016 to 2017 30 September 2016 GBP GBP RENT RECEIVED 32,726 22,713 INCREASE IN PROPERTY VALUES 203,333 - Gross Profit 236,059 22,713 Administrative Expenses (108,675) (51,894) ____________ ____________ OPERATING PROFIT/(LOSS) 127,384 (29,181) Interest receivable and similar income - 19 ____________ ____________ PROFIT/(LOSS) BEFORE TAXATION 127,384 (29,162) Taxation - - ____________ ____________ PROFIT/(LOSS) FOR THE FINANCIAL PERIOD 127,384 (29,162)
Consolidated Balance Sheet
30(th) September 2016
30 September 30 September 2017 2016 GBP GBP GBP GBP FIXED ASSETS Investment Property 2,873,109 2,180,000 CURRENT ASSETS Cash at Bank 237,194 56,078 Debtors and Prepayments 6,863 - 244,057 56,078 CREDITORS Amounts falling due within one year (12,812) (1,609) NET CURRENT ASSETS 231,245 54,469 TOTAL ASSETS LESS CURRENT LIABILITIES 3,104,354 2,234,469 PROVISION FOR LIABILITIES - - NET ASSETS 3,104,353 2,234,469 CAPITAL AND RESERVES Called up share capital 164,511 113,261 Share Premium 3,125,714 2,151,964 Retained Earnings (185,871) (30,756) 3,104,354 2,234,469
The above figures have not been reviewed by the Company's auditors.
The directors of the issuer accept responsibility for the contents of this announcement
For further information please contact:
WALLS & FUTURES REIT plc
Joe McTaggart 0333 700 7171 joe@wallsandfutures.com Walls & Futures REIT plc 3rd Floor 111 Buckingham Palace Road London SW1W 0SR www.wallsandfutures.com
CITY & MERCHANT
David Papworth 0207 101 7676 info@cityandmerchant.com City & Merchant Level 17 Dashwood House 69 Old Broad Street London EC2M 1RX
Note to Editors:
Walls & Futures REIT plc is a Real Estate Investment Trust ("REIT") investing in residential property, across the UK focusing on the supported housing sector.
Our customers and strategic partners include local authorities, NHS trusts, housing associations, charities and care providers. We provide tailored housing solutions that encompass funding, design, project management and development.
Our target is to deliver a long-term annual net return of 7-9% of which 3-4% will be paid in the form of a dividend.
We are quoted on the NEX Exchange Growth Market and are members of the Social Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 03, 2017 08:30 ET (12:30 GMT)
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