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Annual Results

Target Healthcare improves FY pretax profit

23 February 2016 09:29

Target Healthcare has improved its FY pretax profit to GBP8.45m, from GBP3.03m. Total revenue was GBP7.9m, from GBP6.4m. FY dividend was 3.09p a share, from 3.06p. EPRA NAV rose to 100.8p a share, from 97.9p.

Chairman Malcolm Nash said:

"The fundamentals of the investment market in UK care home stock remain compelling. The combination of a growing elderly population and both the declining number of beds in the sector and the poor quality of the many older existing homes gives rise to a supply/demand imbalance in modern, purpose built homes.

"We look forward to being able to contribute further to the provision of best-in-class homes to the sector.

"Our Investment Manager discusses the Group's portfolio and the investment market in more detail below. The Board is pleased to be able to report that we continue to see a good pipeline of investment opportunities which are being worked on by the Investment Manager."

At 9:29am: (LON:THRL) Target Healthcare Reit Ltd share price was +1.13p at 112p

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