Link’s Chairman Nicholas Allen (second from right), Executive Director and Chief Executive Officer George Hongchoy (second from left), Executive Director and Chief Financial Officer Kok-siong Ng (left), and Chief Operating Officer Ex. Mainland China Greg Chubb (right) announced Link REIT’s 2023/2024 annual results [Photo from Link REIT]
Singapore assets boost Link REIT FY24 NPI by 9.5% YoY
Despite improved NPI, the REIT’s full-year DPU fell to HK$2.6265 (S$0.45).
The addition of Singapore retail assets to Link’s portfolio boosted the REIT’s revenue and net property income (NPI) by 11.0% and 9.5%, respectively, in FY24.
Revenue for the period was HK$13.6m (S$2.4m) whilst NPI was HK$10.1m (S$1.75m).
The REIT also attributed its improved financial performance to the full-period income contribution of its Australia retail assets and Mainland China logistics assets.
Meanwhile, the REIT also recorded a 6.4% YoY higher distributable income of HK$6.7m (S$1.2m).
The REIT’s final distribution per unit (DPU) for the year also rose 11.6% YoY to HK$1.3257 (S$0.23), bringing the full-year DPU to HK$2.6265 (S$0.45).
Compared to FY23, the FY24 full-year DPU was 4.3% YoY lower.
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