NewRiver REIT PLC - London-based real estate investment trust - In the financial year to March 31, reports IFRA pretax profit of GBP3.0 million compared with pretax loss of GBP16.8 million a year prior. Underlying funds from operations is GBP24.4 million compared with GBP25.8 million, IFRS basic earnings per share are 1.0 pence versus loss per share of 5.4p. EPRA net tangible asset per share falls to 115p from 121p, dividend decreases to 6.6p from 6.7p.
Chief Executive Allan Lockhart, comments: "During the fourth quarter, we have seen a continuation of the positive operational momentum that has built over recent years, which is reflective of both the steadily improving health of the underlying retail market and the inherent strengths of our business. The retail sector is arguably in the best position it's been in for several years following a wave of corporate restructurings and the successful repositioning of many retailers, which have created a healthier operating environment, as well as the increased market share of omnichannel retailers with physical retail playing a central role."
Current stock price: 72.90 pence
12-month change: down 16%
By Jeremy Cutler, Alliance News reporter
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NewRiver (NRR)