Civitas Social Housing profits fall but rental income more than doubles
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.
At 8:04am: (LON:CSH) W Resources PLC formerly Caspian Holdings PLC share price was 0p at 107.5p