StockMarketWire.com - The PRS REIT posted a large rise in first-half profit after it boosted its rental income.

Pre-tax profit for the six months through December amounted to £7.5m, up from £0.5m on-year.

Rental income more than tripled to £2.3m.

Dividends for the first and second quarters totaled 2p per share.

The company said its total dividend target for the full year was 5p per share.

'The PRS REIT made pleasing progress in the first half, and the growth in the number of completed rental homes is showing through in these financial results,' chairman Steve Smith said.

'We closed the half year with about 3,575 homes either built or under construction, with that number now at around 3,951.'


At 8:25am: [LON:PRSR] PRS Reit Plc share price was -3p at 99p



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