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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