Walls & Futures REIT PLC (AQSE:WAFR) said it made fantastic progress since the launch of Pax Homes - flexible accommodation designed around the needs of people with autism.
The update was contained in the full-year results statement from the ethical housing investor and developer.
For the year to March 31, net asset value edged down 4% to 98p a share, while revenue was off 37% at £93,455. It made a loss of £122,296 but booked an exceptional item of £164,794 - the cost of defending a hostile takeover.
"We’ve made fantastic progress since with the launch of Pax Homes and are thrilled with the positive response we've received from specialist charities, care providers, housing associations, NHS trusts, local authorities, and special education needs schools,” said chief executive Joe McTaggart.
He added the group would have to shed its real estate investment trust status in order to fully capitalise on the Pax Homes opportunity.
This ‘strategic pivot’, McTaggart said, would provide Walls & Futures access to alternative sources of capital.