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REAL ESTATE CREDIT INVESTMENTS LIMITED

(RECI)
  Report
Delayed London Stock Exchange  -  11:35 2022-12-06 am EST
135.00 GBX   +3.45%
12/01REAL ESTATE CREDIT INVESTMENTS LIMITED : Ex-dividend day for interim dividend
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Real Estate Credit NAV per share stable despite market volatility

11/24/2022 | 08:12am EST

(Alliance News) - Real Estate Credit Investments Ltd on Thursday said its net asset value per share remained stable in the first half of its financial year, despite market volatility.

Guernsey-based Real Estate Credit Investments is a specialist investor in European real estate credit markets.

Real Estate Credit's NAV per share was GBP1.48 for the six months to September 30, down slightly from GBP1.51 the year before.

The company said this reflects the payment of 6p per share during the half year, in respect of the fourth interim dividend for financial 2022 and the first interim dividend of the current financial year.

This returned GBP13.8 million to shareholders and provided an annualised NAV total return of 5.9% for the half year.

Real Estate Credit added that market volatility after the Mini-Budget provoked investor uncertainty in credit markets and contributed to some reactive selling of its shares.

Overall, Real Estate Credit's net assets for the period were GBP340.5 million, down from GBP343.9 million in the last quarter, while total assets declined 4.2% to GBP465.7 million from GBP447.0 million.

The company's net profit was GBP10.3 million in the half year, down 27% from GBP14.2 million.

Looking ahead, Real Estate Credit said it will be operating against a backdrop of high inflation and increasing interest rates for the rest of this financial year.

The company's portfolio composition, structure and diversification into western Europe, "position it well" to withstand these challenges and steer a course through difficult market conditions.

Real Estate Investment said it aims to deliver a stable quarterly dividend with minimal portfolio volatility.

Real Estate Credit Investments shares were up 1.4% to 136.43p on Thursday afternoon in London.

By Jaskeet Briah; jaskeetbriah@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Financials
Sales 2023 46,7 M 49,1 M 49,1 M
Net income 2023 38,9 M 40,9 M 40,9 M
Net Debt 2023 - - -
P/E ratio 2023 11,5x
Yield 2023 8,72%
Capitalization 360 M 379 M 379 M
Capi. / Sales 2023 7,71x
Capi. / Sales 2024 5,86x
Nbr of Employees -
Free-Float 98,8%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 1,35
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Robert Trevor Cowdell Non-Executive Chairman
John Edward Hallam Senior Independent Non-Executive Director
Sally-Anne Farnon Independent Non-Executive Director
Colleen McHugh Independent Non-Executive Director
Sophie Turner Head-Investor Relations