Walls & Futures REIT PLC: Final Results for the Year to 31 March 2024

Walls & Futures REIT PLC (Ticker: WAFR) has published its final results and audited annual report for the year ending 31 March 2024. The company continues to invest in and develop properties to meet the UK’s unmet demand for specialist social housing. While it faced economic challenges, including the highest interest rates in 16 years, it collected 100% of its rents and saw a revenue increase of 11.7% to £128,917. Net Asset Value decreased by 4.5% to 85p per share.

The company reported a loss of £43,561, a reduction from last year’s loss of £472,765. Investment property value increased by 2.4%. Earnings per share improved to -1.17p from -12.59p. Newly appointed Ross Taylor from Vengrove joined the board. CEO Joe McTaggart expressed optimism about fundraising improvements and highlighted the company's resilience amid sector-wide challenges.

Pax Homes, an associated entity, received NHS England approval for grant funding. This initiative supports local authorities in building new homes, though it has yet to generate revenue. The company continues to engage with institutional investors to expand its portfolio in social infrastructure assets.