Source - SMW
Civitas Social Housing reported Thursday a slump in first-half profits even as rental income doubled supported by acquisitions.  

For the six months ended 30 September 2018, profit before tax rose to £10.6m from £23.58m and net rental income rose to £15.7m from £7.03m a year earlier. 

The annualised rent roll came in at £37.2m, an increase of 31% reflecting acquisitions made during the period and indexation, the company said. 

The investment property was valued at £678.7m, up from £321m last year. 


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