16 March 2018
This announcement contains inside information
KCR Residential REIT plc (AIM: KCR), the residential real estate investment trust group, is pleased to announce its interim results for the six months to 31 December 2017. A copy of the interim report and accounts will be posted to shareholders shortly. A copy will also be available from the Company's website, www.kcrrreit.com.
The full results are available to
Commenting on the results, Michael Davies, chairman of KCR, said: "KCR is both an income and capital growth opportunity for its shareholders. It seeks to deliver income return from the collection of rents from tenants and generates capital returns through investment in under-valued property assets that are generally marked to market at acquisition. The Group is currently scaling-up its activities such that it can generate a profit and pay a dividend to shareholders."
Dominic White, the chief executive of KCR, said: "The portfolio at 31 December 2017 was valued at £9.45 million, an increase of £2.2 million compared to 30 June 2017. The Group has grown the portfolio by £1.75 million through investment and crystallised value of more than £0.45 million through asset management during the six-month period.
KCR's net asset value per share at 31 December 2017 was 77.1p (83.7p - 30 June 2017)."
This announcement contains information which, prior to its disclosure, was inside information for the purpose of the Market Abuse Regulation.
|KCR Residential REIT plc||[email protected]|
|Dominic White, Chief executive||+44 20 3793 5236|
|Arden Partners plc||+44 20 7614 5917|
| Steve Douglas
Notes to Editors:
K&C's objective is to build a substantial residential property portfolio that generates secure income flow for shareholders through the acquisition of SPVs (Special Purpose Vehicles) with inherent historical capital gains. The Directors intend that the group will acquire, develop and manage residential property assets in London and other key residential areas in the UK.