NewRiver REIT

NRR · Main Market · Real Estate · mcap £336m · 77.1p

Beta Briefing, track record and signals & risks are not ready for NewRiver REIT yet.

We follow 817 UK small caps and every one of their announcements – often hundreds per company. 61 companies are already wired into a briefing: browse them.

Financials · LTM to 31 Mar 26

Source: results 02 Jun 26 ↗

Revenue: £131m
Operating profit: £48.7m
Net income: £31.7m
Free cash flow: £34.1m
Net debt: £323m
Market cap: £336m
EV / EBIT: 13.5×
FCF yield: +10.2%
Price / book: 0.7×

Latest half-year · H1 Sep 25 vs H1 Sep 24 results 02 Dec 25 ↗

Revenue: £62.2m
Operating profit: £22.5m
Net income: £14.4m
Cash from operations: £16.4m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Latest report: FY Mar 26 (twelve months to 31 Mar 26), published 02 Jun 26 · read the results ↗

Source ↗

	2026 Unaudited Operating and financing 2026 £m	2026 Unaudited Fair value adjustments 2026 £m	2026 Unaudited Total 2026 £m	2025 Operating and financing 2025 £m	2025 Fair value adjustments 2025 £m	2025 Total 2025 £m
Revenue	131.0	-	131.0	90.5	-	90.5
Property operating expenses*	(62.6)	-	(62.6)	(34.3)	-	(34.3)
Net property income	68.4	-	68.4	56.2	-	56.2
Administrative expenses	(19.0)	-	(19.0)	(18.5)	-	(18.5)
Share of profit from associates	(0.5)	0.1	(0.4)	0.2	(0.1)	0.1
Net property valuation movement	-	4.2	4.2	-	2.1	2.1
Loss on disposal of subsidiary	(0.9)	-	(0.9)	-	-	-
Loss on disposal of investment properties	(3.6)	-	(3.6)	(0.9)	-	(0.9)
Operating profit	44.4	4.3	48.7	37.0	2.0	39.0
Finance income	2.9	-	2.9	5.3	-	5.3
Finance costs	(20.3)	-	(20.3)	(17.6)	-	(17.6)
Profit for the year before taxation	27.0	4.3	31.3	24.7	2.0	26.7
Taxation	0.6	(0.2)	0.4	-	(3.0)	(3.0)
Profit for the year	27.6	4.1	31.7	24.7	(1.0)	23.7
Total comprehensive profit for the year	31.7	23.7	–	–	–	–
There are no items of other comprehensive income for the current or prior year
Earnings per share
Basic (pence)	11	7.1	6.3	–	–	–
Diluted (pence)	11	7.1	6.3	–	–	–

Source ↗

	2026 £m Unaudited	2025 £m
Non-current assets
Investment properties	848.6	939.0
Right of use asset	23.3	18.1
Investments in associates	2.4	5.3
Property, plant and equipment	4.2	3.8
Goodwill	3.6	3.6
Intangible asset	0.5	0.9
Total non-current assets	882.6	970.7
Current assets
Trade and other receivables	23.9	22.1
Cash and cash equivalents	115.5	61.3
Total current assets	139.4	83.4
Total assets	1,022.0	1,054.1
Equity and liabilities
Current liabilities
Trade and other payables	46.9	53.4
Lease liability	1.8	1.8
Total current liabilities	48.7	55.2
Non-current liabilities
Lease liability	77.2	71.8
Deferred tax liability	0.2	-
Borrowings	438.3	437.0
Total non-current liabilities	515.7	508.8
Net assets	457.6	490.1
Equity
Share capital	4.3	4.7
Share premium	56.4	53.9
Merger reserve	74.3	74.3
Investment in own shares	(2.9)	(1.4)
Capital Redemption Reserve	0.4	-
Retained earnings	325.1	358.6
Total equity	457.6	490.1

Source ↗

	2026 £m Unaudited	2025 £m
Cash flows from operating activities
Profit for the year before taxation	31.3	26.7
Adjustments for
Loss on disposal of investment properties	3.6	0.9
Loss on disposal of subsidiary	0.9	-
Net valuation movement	(4.2)	(2.1)
Net valuation movement in associates	(0.1)	0.1
Share of loss / (profit) from associates	0.5	(0.2)
Amortisation of tenant incentives	0.3	-
Net interest expense	17.4	12.3
Rent free lease incentives	(2.0)	(0.6)
Expected credit loss charge / (reversal)	0.7	(0.3)
Amortisation of legal and letting fees	1.2	(0.3)
Amortisation of intangible assets	0.4	0.3
Depreciation on property plant and equipment and right of use assets	2.9	1.1
Share-based payment expense	1.4	1.2
Cash generated from operations before changes in working capital	54.3	39.1
Changes in working capital
(Increase) / decrease in trade and other receivables	(0.6)	1.6
Decrease in payables and other financial liabilities	(1.6)	(1.0)
Cash generated from operations	52.1	39.7
Interest paid	(18.9)	(17.5)
Interest income	2.9	5.8
Corporation ta x received	0.6	-
Dividends received from associates	0.5	0.4
Net cash generated from operating activities	37.2	28.4
Cash flows from investing activities
Repayment of long term Shareholder loan by associate / (return of investment from associate)	2.0	(0.1)
Disposal proceeds from joint venture	-	0.1
Disposal of investment properties	43.4	3.0
Disposal of subsidiary	57.3	-
Development and other capital expenditure	(16.4)	(9.7)
Purchase of plant and equipment	(1.2)	-
Cash paid for Capital & Regional acquisition, including transaction costs	-	(81.8)
Cash acquired in Capital & Regional acquisition	-	25.8
Acquisition of subsidiaries, net of cash acquired	-	(5.1)
Net cash generated from / (used in) investing activities	85.1	(67.8)
Cash flows from financing activities
Repayment of principal portion of lease liability	(1.9)	(1.0)
Purchase of own shares	(2.3)	-
Share buyback	(36.1)	-
Loan repayment	-	(58.0)
Equity placing and retail offer	-	48.7
Dividends paid - ordinary	(27.8)	(21.8)
Net cash used in financing activities	(68.1)	(32.1)
Cash and cash equivalents at beginning of the year	61.3	132.8
Net increase / (decrease) in cash and cash equivalents	54.2	(71.5)
Cash and cash equivalents at 31 March	115.5	61.3

Source ↗

	Unaudited Operating and financing £m	Unaudited Fair value adjustments £m	Six months ended 30 September 2025 Total £m	Six months ended 30 September 2025 Operating and financing £m	Six months ended 30 September 2024 Fair value adjustments £m	Six months ended 30 September 2024 Total £m
Revenue	62.2	-	62.2	31.8	-	31.8
Property operating expenses*	(31.4)	-	(31.4)	(9.1)	-	(9.1)
Net property income	30.8	-	30.8	22.7	-	22.7
Administrative expenses	(10.5)	-	(10.5)	(7.6)	-	(7.6)
Share of profit from associates	-	0.1	0.1	-	-	-
Net property valuation movement	-	4.6	4.6	-	(2.2)	(2.2)
Loss on disposal of subsidiary	(1.1)	-	(1.1)	-	-	-
Loss on disposal of investment properties	(1.4)	-	(1.4)	(0.2)	-	(0.2)
Operating profit	17.8	4.7	22.5	14.9	(2.2)	12.7
Finance income	1.5	-	1.5	3.1	-	3.1
Finance costs	(10.2)	-	(10.2)	(7.6)	-	(7.6)
Profit / (loss) for the period before taxation	9.1	4.7	13.8	10.4	(2.2)	8.2
Taxation	0.6	-	0.6	-	-	-
Profit / (loss) for the period	9.7	4.7	14.4	10.4	(2.2)	8.2
Total comprehensive profit / (loss) for the period	9.7	4.7	14.4	10.4	(2.2)	8.2
Earnings per share
Basic (pence)	10	3.1	2.6	–	–	–
Diluted (pence)	10	3.1	2.6	–	–	–

Source ↗

	30 September 2025 £m Unaudited	31 March 2025 £m
Non-current assets
Investment properties	876.0	939.0
Right of use assets	17.0	18.1
Investment in associates	5.2	5.3
Property, plant and equipment	3.9	3.8
Goodwill	3.6	3.6
Intangible asset	0.7	0.9
Total non-current assets	906.4	970.7
Current assets
Trade and other receivables	21.7	22.1
Cash and cash equivalents	88.6	61.3
Total current assets	110.3	83.4
Total assets	1,016.7	1,054.1
Equity and liabilities
Current liabilities
Trade and other payables	55.3	53.4
Lease liability	1.5	1.8
Total current liabilities	56.8	55.2
Non-current liabilities
Lease liability	71.4	71.8
Borrowings	437.6	437.0
Total non-current liabilities	509.0	508.8
Net assets	450.9	490.1
Equity
Share capital	4.3	4.7
Share premium	18.7	53.9
Merger reserve	74.3	74.3
Investment in own shares	(2.9)	(1.4)
Retained earnings	356.5	358.6
Total equity	450.9	490.1

Source ↗

	2025 £m	2024 £m
Cash flows from operating activities
Profit for the period before taxation	13.8	8.2
Adjustments for
Loss on disposal of investment properties	1.4	0.2
Loss on disposal of a subsidiary	1.1	-
Net valuation movement	(4.6)	2.2
Net valuation movement in associates	(0.1)	-
Share of profit from associates	-	-
Net interest expense	8.7	4.5
Rent free lease incentives	(0.8)	(0.2)
Movement in expected credit loss	0.9	(0.6)
Amortisation of legal and letting fees	(0.4)	-
Tenant incentives	(0.2)	-
Amortisation of intangible assets	0.2	-
Depreciation and impairment on property plant and equipment	1.0	0.2
Share-based payment expense	0.8	0.6
Cash generated from operations before changes in working capital	21.8	15.1
Changes in working capital
Decrease / (increase) in trade and other receivables	0.1	(4.5)
(Decrease) / increase in payables and other financial liabilities	(3.6)	2.0
Cash generated from operations	18.3	12.6
Interest paid	(4.2)	(2.1)
Interest income	1.5	3.4
Corporation tax received	0.6	-
Dividends received from joint venture	-	0.1
Dividends received from associates	0.2	0.1
Net cash generated from operating activities	16.4	14.1
Cash flows from investing activities
Return of investment from associate	(0.1)	-
Disposal of investment properties	12.0	3.8
Disposal of subsidiary	57.2	-
Development and other capital expenditure	(3.2)	(1.1)
Acquisition of subsidiaries, net of cash acquired	-	(5.0)
Net cash generated from / (used in) investing activities	65.9	(2.3)
Cash flows from financing activities
Repayment of principal portion of lease liability	(0.7)	(0.4)
Equity placing and retail offer	-	48.9
Share buyback	(36.1)	-
Purchase of own shares	(2.3)	-
Dividends paid - ordinary	(15.9)	(8.7)
Net cash (used in) / from financing activities	(55.0)	39.8
Cash and cash equivalents at beginning of the period	61.3	132.8
Net increase in cash and cash equivalents	27.3	51.6
Cash and cash equivalents at 30 September	88.6	184.4

	FY Mar 26	FY Mar 25
Revenue to operating profit
Revenue	131.0	90.5
Operating profit	48.7	39.0
Amortisation	0.4	0.3
Share-based payments	1.4	1.2
Operating profit to net income
Finance costs	(20.3)	(17.6)
Profit before tax	31.3	26.7
Tax	0.4	(3.0)
Net income (owners)	31.7	23.7
Per share
EPS basic	7.1p	6.3p
EPS diluted	7.1p	6.3p
Dividend per share	6.7p	6.5p

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Revenue to operating profit
Revenue	68.8	62.2	58.7	31.8
Operating profit	26.2	22.5	26.3	12.7
Amortisation	0.2	0.2	0.3	0.0
Share-based payments	0.6	0.8	0.6	0.6
Operating profit to net income
Finance costs	(10.1)	(10.2)	(10.0)	(7.6)
Profit before tax	17.5	13.8	18.5	8.2
Tax	(0.2)	0.6	(3.0)	0.0
Net income (owners)	17.3	14.4	15.5	8.2
Per share
EPS basic	4.0p	3.1p	3.7p	2.6p
EPS diluted	4.0p	3.1p	3.7p	2.6p
Dividend per share	(303.3p)	310.0p	(293.5p)	300.0p

	FY Mar 26	FY Mar 25
Operating activities
Cash from operations	37.2	28.4
Interest paid	(18.9)	(17.5)
Investing activities
Capex (PP&E)	(1.2)	–
Financing activities
Lease principal paid	(1.9)	(1.0)
Dividends paid	(27.8)	(21.8)
Share buybacks	(36.1)	–
Shares issued	–	48.7

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Operating activities
Cash from operations	20.8	16.4	14.3	14.1
Interest paid	(14.7)	(4.2)	(15.4)	(2.1)
Financing activities
Lease principal paid	(1.2)	(0.7)	(0.6)	(0.4)
Dividends paid	(11.9)	(15.9)	(13.1)	(8.7)
Share buybacks	0.0	(36.1)	–	0.0
Shares issued	–	0.0	(0.2)	48.9

	31 Mar 26	31 Mar 25
Non-current assets
Goodwill	3.6	3.6
Other intangibles	0.5	0.9
Property, plant & equipment	4.2	3.8
Investment property	848.6	939.0
Associates & JVs	2.4	5.3
Non-current assets	882.6	970.7
Current assets
Trade receivables	23.9	22.1
Cash	115.5	61.3
Current assets	139.4	83.4
Total assets	1,022.0	1,054.1
Current liabilities
Trade payables	46.9	53.4
Lease liabilities, current	1.8	1.8
Current liabilities	48.7	55.2
Non-current liabilities
Borrowings, non-current	438.3	437.0
Lease liabilities, non-current	77.2	71.8
Equity
Total equity	457.6	490.1
Net cash and other figures
Net cash / (debt) ex leases	–	(379.2)
Net asset value	457.6	490.1

	31 Mar 26	30 Sep 25	31 Mar 25
Non-current assets
Goodwill	3.6	3.6	3.6
Other intangibles	0.5	0.7	0.9
Property, plant & equipment	4.2	3.9	3.8
Investment property	848.6	876.0	939.0
Associates & JVs	2.4	5.2	5.3
Non-current assets	882.6	906.4	970.7
Current assets
Trade receivables	23.9	21.7	22.1
Cash	115.5	88.6	61.3
Current assets	139.4	110.3	83.4
Total assets	1,022.0	1,016.7	1,054.1
Current liabilities
Trade payables	46.9	55.3	53.4
Lease liabilities, current	1.8	1.5	1.8
Current liabilities	48.7	56.8	55.2
Non-current liabilities
Borrowings, non-current	438.3	437.6	437.0
Lease liabilities, non-current	77.2	71.4	71.8
Equity
Total equity	457.6	450.9	490.1
Net cash and other figures
Net cash / (debt) ex leases	–	(352.8)	(379.2)
Net asset value	457.6	–	490.1
Shares in issue	–	430.0m	–
Treasury shares	–	3.3m	–

Read automatically from each results announcement. Check the source before relying on a figure.

Spotted an error in this income statement? Report it

Company filings. Not investment advice.