StockMarketWire.com - Civitas Social Housing reported a rise in half-yearly profit as rental income rose sharply amid new investments made in the first half of the year.

For the six-month period ended 30 September 2019, pre-tax profit rose to £17.4m from £10.6m on-year and rental income jumped 45% to £22.7m

The rise in rental income was driven by investment made in the period, on track indexation of rents and the effect of rental income on properties purchased prior to the period, included for the full six months, the company said.

The interim dividend was raided by 6% to 2.65p.

Looking ahead, Civitas Social Housing said the major political parties in their manifestos for the forthcoming General Election have committed to seeking the delivery of additional social housing for general needs.

Brexit, meanwhile, was not expected to have any particular effect on the group's activities which were entirely UK based, it added.


At 9:33am: [LON:CSH] W Resources PLC formerly Caspian Holdings PLC share price was 0p at 88.4p



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