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Irish Residential Properties REIT plc (IRES)
Irish Residential Properties REIT plc
Q3 Trading Update
Continued strong operational delivery, good progress against strategic initiatives
22 November 2024, Dublin | Irish Residential Properties REIT plc (“the Company” or “I-RES”), Ireland’s largest provider of private rental accommodation, today provides a trading update for the three months ending 30 September 2024 (the “third quarter” or “Q3”), along with a progress update on initiatives announced as part of the Company’s Strategic Review (“the Strategic Review”), which concluded in August.
Operating Highlights
Progress on Strategic Review Initiatives
Capital Allocation
Eddie Byrne, CEO of I-RES, commented:
“We are pleased to report strong progress with our strategic review initiatives and are encouraged by the positive momentum of the business. The execution of our recycling programme is ahead of our expected timeframe and will further strengthen our financial position. While we will continue to consider all opportunities to enhance shareholder value, we are confident about the long-term market opportunity which is underpinned by our high-quality portfolio and market leading operating platform.”
1 LTV net of cash based on portfolio valuation at 30 June 2024 2 Based on 30 June 2024 book values END For further information please contact: For Investor Relations: Irish Residential Properties REIT plc Luke Ferriter, Director Investor Relations Tel: +353 (0) 1 563 4000 Eddie Byrne, Chief Executive Officer Tel: +353 (0) 1 557 0974
For Media Queries: Jonathan Neilan, FTI Consulting Tel: +353 (0) 86 231 4135 Sam Moore, FTI Consulting Tel: +353 (0) 87 737 9089
About Irish Residential Properties REIT plc Irish Residential Properties REIT plc (“I-RES”) is a growth oriented Real Estate Investment Trust providing quality professionally managed homes in sustainable communities in Ireland. The Group owns 3,672 apartments and houses for private rental in Dublin. I-RES aims to be the provider of choice for the Irish living sector, known for excellent service and for operating responsibly, minimising its environmental impact, and maximising its contribution to the community. The Company's shares are listed on Euronext Dublin. Further information at .
This note applies if and to the extent that there are forward-looking statements in this Announcement.
This Announcement may contain forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. Except as required by law or by any appropriate regulatory authority, the Company will not undertake any obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise.
Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | IE00BJ34P519 |
| Category Code: | TST |
| TIDM: | IRES |
| LEI Code: | 635400EOPACLULRENY18 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 360663 |
| EQS News ID: | 2035991 |
| End of Announcement | EQS News Service |
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