Sunlight Real Estate Investment Trust (Sunlight REIT) announced unaudited interim results for the 12 months ended 30 June 2024. During the period, Sunlight REIT's income increased by 6.0% to HKD 830.2 million, while net property income rose by 3.9% to HKD 648.0 million. After-tax profit turned from a loss of HKD 28.4 million in the same period last year to a profit of HKD 159.2 million. Distributable income decreased by 12.2% to HKD 333.9 million, with distribution per unit falling by 17.7% to 18.1 Hong Kong cents. The property portfolio's valuation declined slightly by 0.5% to HKD 1,841.9 million, with net asset value decreasing by 1.3% to HKD 1,349.6 million. Financial costs increased by 68.6% to HKD 223.0 million, mainly due to rising interest rates and new loans for the acquisition of West 9 Zone. The manager...Show More

Sunlight Real Estate Investment Trust (Sunlight REIT) announced unaudited interim results for the 12 months ended 30 June 2024. During the period, Sunlight REIT's income increased by 6.0% to HKD 830.2 million, while net property income rose by 3.9% to HKD 648.0 million. After-tax profit turned from a loss of HKD 28.4 million in the same period last year to a profit of HKD 159.2 million. Distributable income decreased by 12.2% to HKD 333.9 million, with distribution per unit falling by 17.7% to 18.1 Hong Kong cents. The property portfolio's valuation declined slightly by 0.5% to HKD 1,841.9 million, with net asset value decreasing by 1.3% to HKD 1,349.6 million. Financial costs increased by 68.6% to HKD 223.0 million, mainly due to rising interest rates and new loans for the acquisition of West 9 Zone. The manager announced a second interim distribution of 9.1 Hong Kong cents per unit, together with the first interim distribution, the total distribution for the reporting period was 18.1 Hong Kong cents per unit, with a distribution ratio of 92.6%. The overall occupancy rate of the property portfolio was 91.6%, with negative rental reversion of 1.6% for office properties and positive 1.6% for retail properties. The rental reversion for the overall property portfolio showed a positive growth of 0.3%. The manager stated that despite the challenging economic environment, the average occupancy rate of the property portfolio should be maintained at an ideal level.