M7 Regional E-Warehouse REIT has posted a strong performance in the six months to the end of June, with its net asset value (NAV) increasing by 12.75%. The REIT also recorded an operating profit of £6.51m with a profit before tax of just over £5m.
James Max, non-executive chairman of M7 Regional E-Warehouse REIT, said: “This positive set of interim results clearly underlines the strength and resilience of the portfolio. The group has delivered healthy increases in our like-for-like property valuation and NAV. Against a challenging and uncertain backdrop, we remain confident in our ability to unlock value for shareholders through our asset management initiatives.
“These include improvements to the portfolio’s environmental credentials, and through opportunistic transactions. When combined with our strong balance sheet and modest overheads, these provide the group with a solid foundation from which to deliver attractive total returns. The board remain confident of delivering the target fully covered annual dividend of 8p per share, all else being equal, by March 2023.”
