pstrongIn 1H24, the REIT reported a 1.3% YoY lower NPI./strong/p pThe increase in Singapore property taxes has negatively impacted Frasers Hospitality Trust's (FHT) net property income (NPI) for the 1H24 period./p pIn its latest financial statement, FHT reported a 1.3% YoY lower NPI of $44.7m.
The increase in Singapore property taxes has negatively impacted Frasers Hospitality Trust's net property income for the 1H24 period.Increased labour and utilities costs driven by inflation across FHT's portfolio also affected the 1H24 NPI.
Apart from lower NPI, the REIT also reported declines in its income available for distribution and distribution per stapled security .On the other hand, the company recorded a 1.7% YoY higher gross revenue of $63.3m driven by a slight improvement in its hospitality portfolio performance....there are many ways you can work with us to advertise your company and connect to your customers.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore properties boost OUE Commercial REIT’s NPI by 6.9% YoYpstrongThese properties include Hilton Singapore Orchard./strong/p pThe net property income of OUE Commercial REIT rose 6.9% YoY to $60.5m in 1Q24, driven by enhanced contributions from Hilton Singapore Orchard and the robust performance of Singapore's commercial properties.
Read more »
LHN Limited Warns of a profit dip in 1H24pstrongIt expects a $14.5m profit for the period./strong/p pSGX-listed LHN Limited warned shareholders of a lower net profit before tax from continuing operations and discontinued operations of $14.5m for 1H24./p pIn 1H23, the company recorded a $20.3m profit.
Read more »
Frasers Property Limited Expects Significant Decrease in 1H24 ProfitFrasers Property Limited anticipates a decline in its attributable profit for the first half of 2024 due to fair value losses and impairment on certain commercial properties in the UK.
Read more »
Elite Commercial REIT’s NPI dips 3.7% YoY despite revenue increasepstrongNPI for the period was £8.3m./strong/p pElite Commercial REIT saw its net property income dip by 3.7% YoY to £8.3m in 1Q24 despite higher revenue./p pRevenue for the period was £9.2m, 0.8% YoY higher. The REIT attributed its higher revenue to rent escalations in April 2023.
Read more »
Daiwa House Logistics Trust NPI up 4.6% YoY in 1Q24pstrongIts gross rental income also rose 1.9%./strong/p pSGX-listed Daiwa House Logistics Trust (DHLT) registered a net property income of JPY1.2b ($8.74m) in 1Q24, reflecting a 4.6% YoY increase./p pThe company attributed its improved performance to higher portfolio occupancy./p pGross rental income rose 1.9% YoY to JPY1.
Read more »
MapleTree Industrial Trust’s NPI rises 0.6% on new acquisitions, leasespstrongDespite higher NPI, MIT saw a 1.0% YoY dip in DPU./strong/p pMapletree Industrial Trust (MIT) saw a marginal 0.6% YoY increase in net property income in FY23/24 to reach $521.0m./p pIn the same period, MIT posted a 1.8% YoY higher gross revenue of $697.3m.
Read more »