Impact Healthcare REIT plc (ticker: IHR), is pleased to announce its full year results for the 12 months ended 31 December 2022.Read more
The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than the Republic of Ireland or the Netherlands), Canada, Australia, Japan or the Republic of South Africa.
This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this Announcement, this inside information is now considered to be in the public domain.
Impact Healthcare REIT plc
(“Impact” or the “Company” or, together with its subsidiaries, the “Group”)
Impact Healthcare REIT plc (ticker: IHR), the real estate investment trust which gives investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes, today announces its half year results for the six months ended 30 June 2021.
Rupert Barclay, Chairman of Impact Healthcare REIT PLC, commented:
“The past 18 months have demonstrated how resilient our business is. There will be further – and different – challenges ahead, but we believe the Group will be well positioned to deal with them.
The key tests of how resilient the Group is in practice were whether our tenants were able to continue to provide good quality care during an exceptionally challenging period; and whether we continued to collect 100% of the rent due, without putting undue stress on our tenants. We are pleased with how well the Group, and its tenants, rose to these two tests, but we will seek to avoid complacency and ensure that where lessons have been learned they are embedded into the Group’s future strategy.
The Company’s business model remains robust and resilient as demonstrated by the Group’s continued 100% rent receipt. We appreciate the support of new and existing shareholders in our May equity placing, the proceeds of which, along with additional financing secured in the period, allow the Group to pursue further accretive acquisitions whilst remaining well capitalised, with a strong balance sheet, and significant liquidity and headroom.
We welcome the major reform of adult social care announced by the Prime Minister on 7 September 2021 and will study with care its implications for our business in the days ahead. When implemented, these reforms will not just increase funding for elderly care, but will also make it easier for all participants in the sector to plan for the longer term. We will remain a long-term business and the Company’s sustainable healthcare portfolio will continue to provide crucial care-based infrastructure supporting vulnerable elderly people across the UK.”
|Dividends declared per share||3.21p||3.15p||+1.9%||6.29p|
|Profit before tax||£14.51m||£11.05m||+31.3%||£28.80m|
|Earnings per share (“EPS”)||4.41p||3.46p||+27.5%||9.02p|
|Adjusted earnings per share (1)||3.26p||2.86p (3)||+14.0%||5.93p|
|Adjusted earnings dividend cover||102%||91%||94%|
|Contracted rent roll||£33.8m||£29.5m||+14.5%||£30.9m|
|Net asset value (“NAV”) per share||110.66p||107.17p||+3.3%||109.58p|
|Share price (2)||111.20p||95.80p||+16.1%||109.00p|
|Loan to value (“LTV”) ratio||13.7%||18.1%||-24.2%||17.8%|
|NAV total return||3.88%||3.25%||8.46%|
Enhancing the social environment of our homes and their energy efficiency is fundamental to long-term value creation.
Our homes provide an important service in their communities, looking after and supporting a vulnerable segment of society.
We work closely with our tenants to ensure they can provide an enjoyable, safe and caring environment that can enhance the wellbeing of their residents. In the period we have:
For further information please contact:
Impact Health Partners LLP via Maitland/AMO
Jefferies International Limited Tel: +44 20 7029 8000
Tom Yeadon firstname.lastname@example.org
Neil Winward email@example.com
Francesco Namari firstname.lastname@example.org
Winterflood Securities Limited Tel: +44 20 3100 0000
Neil Langford email@example.com
Joe Winkley firstname.lastname@example.org
Maitland/AMO (Communications Adviser) Tel: +44 7747 113 930
James Benjamin email@example.com