EC World REIT NPU down 7.1% in Q2

Net property income for the period was $23.8m.

EC World REIT reported a 7.1% decline in net property income to $23.8m from $25.7m in Q2 2024.

Gross revenue for the period dropped 6.0% to $25.9m from $27.5m a year ago.

Distribution per unit (DPU) stood at $0.767, down 17.2% from $0.926 in Q2 2023.

EC World REIT also reported a lower operating performance across its portfolio for H1 2024 due to lower revenue from Hengde Logistics Phase 1 and Chongxian Port Logistics, and higher operating expenses at the properties.

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