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LMIRT's NPI grows 8.6% to $46.8m in Q2

A 10.5% increase in gross rental income boosted the company’s revenue.

Lippo Malls Indonesia Retail Trust’s (LMIRT) net property income (NPI) grew 8.6% to $46.8m in Q2, OCBC Investment Research said.

The company’s total revenue rose 6.6% YoY to $49.9m as a result of a 10.5% YoY increase in gross rental income to $41.9m.

Meanwhile, LMIRT’s distribution per unit (DPU) climbed up by 5.9% to 0.9 cents in Q2.

The trust also had rental reversions of 13.0% for renewed leases this quarter, higher than Q1’s 7.5%.
 

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