Real estate investment trust Impact Healthcare, which invests in care homes, has announced pre-tax profit of £27.3 million for the first half of 2022, up 88.2% on the £14.5 million reported for the first half of 2021.

Earnings per share increased by 64.6% to 7.26p (June 2021: 4.41p), EPRA EPS was up 2.9% to 4.22p (June 2021: 4.1p) and adjusted earnings per share increased to 3.66p, up 12.3% (June 2021: 3.26p).

The REIT’s contracted annual rent roll was £42 million, up from £33.8 million in June 2021.

Rupert Barclay, chairman of Impact Healthcare REIT, said: “We are a responsible long-term owner of a diversified and resilient portfolio of well run and financially stable care homes that have established care quality and financial track records. We lease them on long-term leases to tenants who we partner with to ensure high ongoing operational standards and care.

“Against a challenging and uncertain backdrop, our business continues to demonstrate its high level of in-built resilience, underpinned by a sector that is largely uncorrelated with the wider economy. This is demonstrated by our 100% collection of rent since our IPO in March 2017, with no lease variations, and a healthy rolling 12-month rent cover of 1.85×2. This underlines our tenants’ ability to manage the inflationary challenges in the current economic environment.