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Annual Results

RGL reports maiden profits of GBP 3.3m

19 April 2016 10:15

Regional REIT has reported an operating profit (before gains/losses on property assets/other investments and exceptional item Launch costs) of GBP3.3m for the period from 6 November to 31 December 2015.

Profit attributable to equity shareholders was GBP21.1m and earnings per share was 7.7p.

The Group's shares were successfully admitted to the premium segment of the Official List and to trading on the London Stock Exchange on 6 November 2015.

At 31 December 2015:

- Gross property assets GBP403.7m; net initial yield 7.6%.

- Over 120 properties, in excess of 710 units and over 530 tenants; occupancy 83.9%.

- Debt outstanding GBP128.6m; average cost 4.5% pa; net loan-to-value ratio 25.4%.

- Net asset value 107.7p per share; EPRA NAV 107.8p per share.

Kevin McGrath, Chairman, commented: "We aim to provide our Shareholders with an attractive return on a sustained and consistent basis from investing in, predominantly, office and industrial property in the main regional centres of the UK. In a business environment which increasingly bears out our belief in this opportunity, we are delivering on the strategy and commitments we made at the time of our recent listing. For the year ahead our outlook is focused on the continued strong growth of the business."

At 10:14am: (LON:RGL) Regional Reit Limited Ord Npv share price was -2p at 105p

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