Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF) chief executive Robert Abraham described a "transformational" year in which the investment firm has been positioned for a "return to growth".
Abraham, in today's results for the twelve months ended 30 June, said: "The team has delivered shareholder value through a number of key strategic milestones, most notably the Internalisation, which will deliver significant cost savings and provides greater alignment with shareholders.
"We have proactively sought to deliver further shareholder value through establishing a £403 million JV, issuing our debut £250 million sterling bond, demonstrating the affordability of rents and validating asset valuations, whilst broadening our investor base through our secondary listing on the JSE.
He added: "The investment case for supermarket real estate is as compelling as ever and our relationship-led model, combined with sector specialism, allows us to unlock attractive opportunities for shareholders."
It reported a property portfolio valuation of £1.73 billion at the end of June, with 55 supermarket properties, which are all fully let.
Net rental income for the year rose to £82.7 million from £81.2 million in the prior year. Contracted annual rent totalled £91.3 million, with an unexpired lease term of 13 years and 77% of rent linked to inflation.
The portfolio's net initial yield was 5.3%, unchanged from the prior year.
Robert Abraham, this morning, highlighted that the team remain focused on delivering shareholder value and growing its platform further.
"Our team of grocery sector specialists continues to demonstrate its ability to originate and execute on an attractive acquisition pipeline of earnings-enhancing opportunities," he said.
"Through this pipeline, we expect to deliver a growing and fully covered dividend."