Property investor shrugs off inflationary fears to post huge profit

Custodian REIT, the Leicester-based property investor, has hailed a year of “significant recovery” after posting its full-yera results to March 31.

The firm posted a profit before tax of £122.3 – a huge rise from just £3.7 last year.

Custodian REIT put its performance down to spreading risk across more assets, location and tenants, which offered more stable cashflow.

David Hunter, chairman of Custodian REIT, said: “The year to 31 March 2022 has been a period of significant recovery for the Company’s net asset value and share price after the extreme challenges presented by the global pandemic.

“Rent collection is back at pre-pandemic levels and tenants have honoured their deferred rent agreements allowing the Board to increase fully covered quarterly dividends to at least 5.5p in the forthcoming financial year.

“Although the impact of inflation and political uncertainty could lead to an economic downturn, we believe Custodian REIT’s portfolio, diversified by sector, geography and tenants, with low gearing will remain resilient in the face of any economic headwinds.”