The board of Home REIT has announced that it expects to publish the company’s audited results for the year ended 31 August 2022 in August 2024.
In a statement, the company said the full-year audit for 2022 was “substantially complete” but that it had been advised by its auditor BDO that further time was required to finalise the audit.
It added that the audited results for the financial year ended 31 August 2023 had been prepared in parallel and that along with interim results for the periods to 28 February 2023 and 2024 respectively, these were expected to be published during Q3 2024.
The company said: “AEW UK Investment Management is continuing to dedicate substantial resource and BDO remains focused on finalising the audit as soon as possible.”
Earlier this month, the REIT continued its major sell-off of assets, raising £11.36m from the sale of 133 properties at a series of public auctions.
Since August last year, Home REIT has completed on the sale of 774 properties and exchanged on a further 205 properties. The gross proceeds from properties sold and exchanged totals £137m and the REIT said the proceeds would be used to reduce the company’s borrowings and provide working capital.
