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2021-09-09

Final Results and Audited Annual Report and Accounts for the Year to 31 March 2021

Walls & Futures REIT PLC (WAFR)
Final Results and Audited Annual Report and Accounts for the Year to 31 March 2021

09-Sep-2021 / 16:30 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

 

9 September 2021

WALLS & FUTURES REIT PLC

 

 ("Walls & Futures" or the "Company")

 

Final Results and Audited Annual Report and Accounts for the Year to 31 March 2021

 

Walls & Futures REIT plc ("WAFR") the Ethical Housing Investor and Developer, is pleased to announce its final results and the publication of its audited annual report and accounts for the year to 31 March 2021. A copy of the annual report and accounts has been published on the Company's website, www.wallsandfutures.com, in accordance with its articles of association, and can also be viewed through a link at the bottom of this announcement.

 

Walls & Futures is an ethical housing investor and developer on a mission to address the unfulfilled demand for specialist social housing in the UK.

 

We design, fund and develop specialist social housing which is let on Full Repairing and Insuring (FRI), inflation linked leases to our partners and customers who include local authorities, registered providers and charities. Their tenants are often individuals with learning & physical disabilities, autism, dementia, mental health and life changing injuries.

 

Walls & Futures REIT plc does not have any involvement with the care delivered within the properties, this is managed by care providers approved by local authorities.

 

Highlights

 

  • Net Asset Value (NAV) down 4.9% to 102p per share (2020: 107p per share)
  • Revenue £148,420 up 7.5% (2020: £138,036)
  • Loss -£214,169 (2020: Profit of £625,767)
  • 100% of Specialist Supported Housing rents collected
  • 97% of Private Rental Sector rents collected
  • Investment property value fell by 1%
  • Earnings per share -5.70p (2020: 16.93p)
  • Outperformed MSCI UK residential benchmark by 423% for year ending 31 December 2020
  • Generated over £1.3m cash through sale of two Private Rented Sector (PRS) properties with funds to be invested in new SSH
  • Repaid entire £600,000 revolving credit facility
  • Pipeline of new partners & projects

 

Key elements of the final results can be viewed below.

 

Joe McTaggart, CEO of Walls & Futures REIT plc said:

 

"Against the challenging economic backdrop caused by Covid-19, we are pleased with the performance of our portfolio which saw 100% of our Specialist Supported Housing rents and 97% of our Private Rental Rents collected.

 

Our investment strategy showed further resilience as we outperformed our benchmark, the MSCI UK Residential Annual Property Index for the fourth year running with a total return of 3.53% over 0.57%.

 

 We're looking forward to announcing further partners in the coming months and continuing to build the future of specialist supported housing with the launch of our bespoke modular housing solution for autism."

 

For further information, contact:

 

Walls & Futures REIT PLC                                                 0333 700 7171     

Joe McTaggart, Chief Executive

Website www.wallsandfutures.com

 

 

Allenby Capital Limited (Corporate Adviser)                  

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