London · Delayed Price · Currency is GBP · Price in GBX NewRiver REIT Earnings Call Transcripts
Fiscal Year 2026
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Strong operational performance was driven by resilient consumer spending, especially in grocery and non-food discount segments. Asset disposals and supportive market conditions position the portfolio for further earnings growth and a well-covered dividend.
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Disciplined growth and strong operational performance drove a 31% increase in cash profits and a fully covered 3.1p dividend. High occupancy, robust leasing, and successful asset disposals support a positive outlook, despite short-term income disruption from retailer restructurings.
Fiscal Year 2025
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Gross assets rose 65% after the Capital & Regional acquisition, driving a 25% increase in underlying funds from operations and strong dividend growth. Operational metrics and leasing performance outperformed the market, with LTV reduced to 38% and further earnings growth expected as cost synergies are realized.
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Completed the acquisition of Capital & Regional, boosting scale, earnings, and dividend prospects, with strong operational performance and high occupancy. Pro forma LTV is 42% with plans to reduce below 40% via disposals, and significant cost synergies are expected within 12 months.
Fiscal Year 2024
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Strong operational and financial results with record occupancy, robust cash position, and outperformance in consumer spending. Dividend yield exceeds 9%, LTV improved to 30.8%, and core assets continue to deliver stable returns.