StockMarketWire.com - Care home investor Target Healthcare REIT posted a rise in first-half profit after it boosted its rental income.

Pre-tax profit for the six months through December rose to £16.6m, up from £14.9m on-year.

Contracted portfolio rent rose 17% to £37.6m, including like-for-like growth of 1.1%.

The company's EPRA net asset value per share increased 0.6% to 108.1p, driven primarily by revaluation gains.

It declared a full-year dividend of 3.34p share, up 1.5% on-year.

'The current coronavirus pandemic is clearly a concern and the safety and wellbeing of the residents in our homes, and the healthcare professionals who provide their care, is paramount,' chief executive Malcolm Naish said.

'A combination of the enhanced infection controls, restriction of visitors, and the ability of residents to follow isolation guidelines if required using generous room sizes and private en suites, provides some comfort that our tenants are well placed to provide the best quality care to their residents given the circumstances.'


At 9:33am: [LON:THRL] Target Healthcare Reit Ltd share price was -3.2p at 79p



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