Supermarket Income Reit

SUPR · Main Market · Real Estate · mcap £1,102m · 80.6p

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Financials · balance sheet 31 Dec 25 · last twelve months · today’s market value

Source: results 16 Sep 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £1,101m
Owner’s net cash: −£837.2m
Net cash / market cap: -76%
EV ex leases: £1,842m
Operating profit: £102.6m
Free cash flow after leases: £58.7m
EV / EBIT: 18.0×
FCF yield: 5.3%
Price / tangible book: 1.00×
ROCE: 5%
Net income (owners): £61.3m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. 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 Jun 26 (twelve months to 30 Jun 26), published 16 Sep 26 · read the results ↗

Source ↗

	Unaudited Six months to 31 December 2025 £'000	Unaudited Six months to 31 December 2024 £'000	Audited Year to 30 June 2025 £'000
Gross rental income	48,897	58,171	114,009
Service charge income	4,607	4,266	9,044
Service charge expense	(4,919)	(4,608)	(9,819)
Net Rental Income	48,585	57,829	113,234
Administrative and other expenses	(5,010)	(7,575)	(14,469)
Other income	1,214	-	305
Operating profit before changes in fair value of investment properties, share of income from joint venture and loss on disposals	44,789	50,254	99,070
Changes in fair value of investment properties	5,820	7,202	28,001
Termination fee	-	-	(20,800)
Share of income from joint venture	2,940	-	1,540
Loss on disposal of investment properties	-	-	(1,327)
Operating profit	53,549	57,456	106,484
Finance income	4,264	10,536	19,688
Finance expense	(19,272)	(23,516)	(46,673)
Changes in fair value of interest rate derivatives	(2,837)	(8,320)	(18,842)
Profit before taxation	35,704	36,156	60,657
Tax credit for the period	617	374	871
Profit for the period	36,321	36,530	61,528
Items to be reclassified to profit or loss in subsequent periods
Fair value movements of interest rate derivatives	-	(730)	(1,539)
Foreign exchange movement	(19)	120	(144)
Total comprehensive income for the period	36,302	35,920	59,845
Total comprehensive income for the period attributable to ordinary shareholders	36,302	35,920	59,845
Earnings per share - basic (pence)	2.9p	2.9p	4.9p
Earnings per share - diluted (pence)	2.9p	2.9p	4.9p

Source ↗

	Unaudited 31 December 2025 £'000	Audited 30 June 2025 £'000	Unaudited 31 December 2024 £'000
Non-current assets
Investment properties	1,511,969	1,415,819	1,763,040
Investment in joint venture	95,794	96,556	-
Financial asset at amortised cost	11,346	11,235	11,130
Interest rate derivatives	3,227	3,133	9,327
Deferred tax asset	1,627	1,011	514
Right of use asset	110	-	-
Equipment	31	32	-
Total non-current assets	1,624,104	1,527,786	1,784,011
Current assets
Assets held for sale	230,929	-	62,950
Interest rate derivatives	1,827	8,091	13,071
Trade and other receivables	132,684	119,612	11,244
Cash and cash equivalents	48,036	95,281	40,631
Total current assets	413,476	222,984	127,896
Total assets	2,037,580	1,750,770	1,911,907
Non-current liabilities
Borrowings	781,080	603,602	664,700
Trade and other payables	3,545	1,672	1,118
Total non-current liabilities	784,625	605,274	665,818
Current liabilities
Borrowings	104,138	-	79,908
Deferred rental income	21,813	19,601	23,713
Trade and other payables	25,621	22,643	25,022
Total current liabilities	151,572	42,244	128,643
Total liabilities	936,197	647,518	794,461
Total net assets	1,101,383	1,103,252	1,117,446
Equity
Share capital	12,462	12,462	12,462
Share premium reserve	500,386	500,386	500,386
Capital reduction reserve	514,791	553,113	591,248
Share based payment reserve	167	16	-
Retained earnings	73,708	37,387	12,389
Cash flow hedge reserve	-	-	809
Other reserves	(131)	(112)	152
Total equity	1,101,383	1,103,252	1,117,446

Source ↗

	Unaudited Six months to 31 December 2025 £'000	Unaudited Six months to 31 December 2024 £'000	Audited Year to 30 June 2025 £'000
Operating activities
Profit attributable to ordinary shareholders	36,321	36,530	61,528
Adjustments for
Tax credit	(617)	(374)	(871)
Changes in fair value of interest rate derivatives measured at fair value through profit and loss	2,837	8,320	18,842
Changes in fair value of Investment properties	(5,820)	(7,202)	(28,001)
Movement in rent smoothing and lease incentive adjustments	(891)	(1,283)	(2,315)
Amortisation of leasing fees	39	20	59
Finance income	(4,264)	(10,536)	(19,688)
Finance expense	19,272	23,516	46,673
Share of income from joint venture	(2,940)	-	(1,540)
Loss on disposal of investment property	-	-	1,327
Share based payment movement	151	-	16
Depreciation	7	-	-
Foreign exchange movement	417	(40)	(309)
Cash flows from operating activities before changes in working capital	44,512	48,951	75,721
Increase in trade and other receivables	(4,705)	(420)	(4,234)
Increase/(decrease) in deferred rental income	2,212	(1,046)	(5,156)
Decrease in trade and other payables	(2,678)	(699)	(197)
Net cash flows from operating activities	39,341	46,786	66,134
Investing activities
Acquisition of equipment	(4)	-	(32)
Acquisition of investment properties	(300,013)	(49,700)	(78,355)
Capitalised acquisition costs	(19,753)	(1,289)	(4,102)
Disposal of investment properties	-	-	262,665
Receipts from other financial assets	145	145	290
Bank interest received	664	48	113
Joint venture loan interest received	808	-	-
Investment in joint venture	(841)	-	-
Loan to joint venture	(102,614)	-	-
Joint venture loans repaid	94,760	-	-
Distributions received from joint venture	4,543	-	-
Net cash flows (used in)/from investing activities	(322,305)	(50,796)	180,579
Financing activities
Borrowings drawn	264,310	217,843	371,305
Bond Issuance	250,000	-	-
Borrowings repaid	(232,981)	(165,187)	(463,635)
Loan arrangement fees paid	(1,666)	(1,418)	(2,156)
Bank interest paid	(13,230)	(20,489)	(44,404)
Settlement of interest rate derivatives	4,286	11,312	21,176
Sale of interest rate derivatives	6,039	-	3,249
Purchase of interest rate derivative	(4,389)	-	(1,169)
Bank commitment fees paid	(697)	(356)	(669)
Dividends paid to equity holders	(35,953)	(35,755)	(73,820)
Net cash flows from/(used in) financing activities	235,719	5,950	(190,123)
Net movement in cash and cash equivalents for the period	(47,245)	1,940	56,590
Cash and cash equivalents at the beginning of the period	95,281	38,691	38,691
Cash and cash equivalents at the end of the period	48,036	40,631	95,281

	FY Jun 26	FY Jun 25
Revenue to operating profit
Operating profit	–	106.5
Operating profit to net income
Finance costs	–	(46.7)
Profit before tax	–	60.7
Tax	–	0.9
Net income (owners)	–	61.5
Per share
EPS basic	6.9p	4.9p
Dividend per share	6.2p	6.1p

	H2 Jun 26	H1 Dec 25	H2 Jun 25	H1 Dec 24
Revenue to operating profit
Operating profit	–	53.5	49.0	57.5
Operating profit to net income
Finance costs	–	(19.3)	(23.2)	(23.5)
Profit before tax	–	35.7	24.5	36.2
Tax	–	0.6	0.5	0.4
Net income (owners)	–	36.3	25.0	36.5
Per share
EPS basic	4.0p	2.9p	2.0p	2.9p
Dividend per share	3.1p	3.1p	3.0p	3.1p

	FY Jun 25
Operating activities
Cash from operations	66.1
Interest paid	(44.4)
Financing activities
Dividends paid	(73.8)

	H1 Dec 25	H2 Jun 25	H1 Dec 24
Operating activities
Cash from operations	39.3	19.3	46.8
Interest paid	(13.2)	(23.9)	(20.5)
Financing activities
Dividends paid	(36.0)	(38.1)	(35.8)

	30 Jun 25
Non-current assets
Investment property	1,415.8
Associates & JVs	96.6
Non-current assets	1,527.8
Current assets
Trade receivables	119.6
Cash	95.3
Current assets	223.0
Total assets	1,750.8
Current liabilities
Trade payables	22.6
Borrowings, current	0.0
Current liabilities	42.2
Non-current liabilities
Borrowings, non-current	603.6
Non-current liabilities	605.3
Total liabilities	647.5
Equity
Total equity	1,103.3

	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Investment property	1,512.0	1,415.8	1,763.0
Associates & JVs	95.8	96.6	0.0
Non-current assets	1,624.1	1,527.8	1,784.0
Current assets
Trade receivables	132.7	119.6	11.2
Cash	48.0	95.3	40.6
Current assets	413.5	223.0	127.9
Total assets	2,037.6	1,750.8	1,911.9
Current liabilities
Trade payables	25.6	22.6	25.0
Borrowings, current	104.1	0.0	79.9
Current liabilities	151.6	42.2	128.6
Non-current liabilities
Borrowings, non-current	781.1	603.6	664.7
Non-current liabilities	784.6	605.3	665.8
Total liabilities	936.2	647.5	794.5
Equity
Total equity	1,101.4	1,103.3	1,117.4
Net cash and other figures
Net asset value	1,092.0	–	–

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

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Company filings. Not investment advice.