Supermarket Income REIT sees more deals ahead as annual profit grows

Supermarket Income REIT PLC said on Wednesday it continues see acquisition opportunities, as annual profit rose even though income declined.

The London-based real estate investment trust said pretax profit was £84.5 million for the financial year that ended June 30, up 39% from £60.7 million the year before, aided by one-time items.

No termination fee was recorded, compared to £20.8 million in financial 2025, and loss on fair value of interest rate derivatives shrank to £208,000 from £18.8 million. Meanwhile, share of income from joint venture surged to £14.6 million from £1.5 million.

Net rental income fell 11% to £100.5 million from £113.2 million. Occupancy and rent collection remained at 100% for June 30.

Supermarket Income acquired £454 million of accretive properties in financial 2026, it said, and scaled the joint venture with Blue Owl Capital to £855 million from £403 million at inception in April last year.

The company declared a total dividend of 6.2 pence, up 1.6% from 6.1 pence.

Earnings per share rose 41% to 6.9p from 4.9p, while headline EPS more than doubled to 5.8p from 2.8p.

IFRS net asset value per share share was 89.2p on June 30, up 0.9% from 88.4p a year before, though it was flat compared to six months before.

EPRA net tangible asset per share per share inched up to 87.5p on June 30 from 87.1p a year before, but also was unchanged from six months before.

Going forward, Supermarket Income said it has an acquisition pipeline in excess of £500 million and access to capital, supporting a target minimum dividend growth of 2% per annum from the 2027 financial year.

"The grocery sector remains an attractive and growing market, and we continue to see opportunities to deliver meaningful growth," it said.

In July, Supermarket Income raised £100 million in equity and has funded £222 million of grocery acquisitions since then.

Shares in Supermarket Income were up 1.0% to 83.29p in London on Wednesday morning, but were flat at ZAR17.89 in Johannesburg.

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