Preliminary announcement of results for the year ended 31 December 2014
Record Revenue, Profits and Dividends
Highlights
* Record revenue up 19%, profits up 21% and dividends up 50%
* Progressive and growing dividend policy in place with the intention to move to quarterly dividend payments from 2016
* Scalable platform with ability to manage larger portfolio of assets
* £20 million capital raise in March 2014 successfully deployed on criteria compliant properties – acquisitions totalling £29.4 million (2013: £2.3 million)
* Rigorous focus on asset management delivering added value across the portfolio and driving rental growth
* Gross Property Assets of £104.4 million (2013: £76.2 million) up 37%
* Conversion to a Real Estate Investment Trust* (REIT) on 1 January 2015
* Very strong and growing regional economy
Paul Bassi, CEO of Real Estate Investors Plc, commented:
“Record profits, gross property assets and dividend payments reveal an excellent year of progress that provides the basis for continued growth and delivery of a progressive dividend policy.
Acquisition opportunities remain healthy and will continue to grow our portfolio. We will also make selected sales where we consider we have maximised our management and will capitalise upon our status as a Real Estate Investment Trust.
We anticipate further rental growth and improved occupancy levels, benefitting from a growing regional economy that is clearly emerging as a major economic powerhouse in the UK.”