Charter Hall Social Infrastructure REIT (ASX:CQE)
has increased its statutory profit by 25 per cent to $85.9 million in the 2020 financial year.
Operating earnings of $51.1 million, up 15.6 per cent on the previous corresponding period and revenue rose by 9.5 per cent to $862 million.
Acquisition activity during the period included securing 11 existing childcare properties for $64.8 million at a purchase yield of 6.3 per cent with a further 3 existing childcare properties contracted for $12.6 million at a purchase yield of 6.4 per cent.
Charter Hall Social Infrastructure REIT’s Fund Manager, Travis Butcher said: “The COVID-19 pandemic has resulted in significant challenges for the childcare sector, however the Government support has demonstrated the essential nature of the sector.
Shares in Charter Hall Social Infrastructure REIT (ASX:CQE)
are trading 1.27 per cent higher at $2.39.