Impact hails social care reform as profit rises by 30%

Care home specialist Impact Healthcare has boosted its profit by 30%. Announcing its half-year results, the REIT said pretax profit for H1 was £14.5m, up from £11m a year earlier. Impact’s portfolio also rose in value by 25%, to £432.4m, after rent reviews added 2% to values and deals added 137 more beds to the estate. The contracted rent roll now stands at £33.8m, 14.5% higher than in 2020. Impact said it was also committed to forward funding a further property, bringing its total portfolio to 111 properties with 6,141 beds. Chair Rupert Barclay said that the REIT welcomed the prime minister’s social care reforms announced yesterday, and will “study with care its implications for our business in the days ahead”. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews