Impact’s profit up by 88%

Impact Healthcare has increased profit by 88%. The REIT said pretax profit for the first half of the year had reached £27.3m, up from £14.5m for H1 2021. Earnings per share rose by 65% to 7.26p. Chair Rupert Barclay said the “strong set of results” were a testament to the REIT’s resilience. “Against a challenging and uncertain backdrop, our business continues to demonstrate its high level of in-built resilience, underpinned by a sector that is largely uncorrelated with the wider economy.” Net asset value per share was up 3.3% and NAV itself up 13.7% since 31 December 2021 to £448m, with 23% LTV. Impact delivered a total accounting return for the six-month period of 6.2%, and Barclay said it was “well placed” to deliver its 9% per annum medium-term total accounting return target. At 30 June 2022, Impact’s portfolio totalled 131 properties with 7,161 beds, valued at £569m. It has also exchanged contracts to acquire a further three homes, which will bring the total portfolio to 134 properties, and 7,316 beds.   To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Photo © Impact Healthcare REIT