Elite Commercial REIT posts 20.4% YoY higher net property income in 9M23

Despite higher NPI, the REIT’s available DPU fell 25.6% YoY in the same period.

Elite Commercial REIT’s net property income (NPI) rose 20.4% YoY to £32.5m ($54.2m) in 9M23, its latest financial statement showed.

The SGX-listed REIT also saw improved revenue in 9M23, posting a 2.0% YoY growth to £28.5m ($47.6m).

Despite the increase in NPI and revenue, the REIT still posted a 25.1% YoY decline in its distribution to unitholders due to higher financing costs. Its available distribution per unit likewise fell during the period.

For 9M23, the REIT’s distribution to unitholders was £13.6m ($22.7m), whilst its DPU was £0.0282 ($0.047).

$1 = £0.60

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Elite Commercial Reit

Net property income

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