News

Commercial Property

Staff Reporter

, Singapore

Published:

1 year ago

Photo from Envato Elements

Elite UK REIT’s FY2024 NPI down 10.3% YoY; DPU up 5.0%

The DPU increase was driven by an increase in portfolio valuation.

Elite UK REIT reported a 10.3% year-on-year (YoY) decline in net property income to $62.8m (£37.4m) in FY2024.

Revenue for the period fell 1.2% YoY to $63m (£37.5m).

Meanwhile, the REIT’s portfolio valuation rose 1.2% YoY to $699.1m (£416.2m) from $690m (£411.1m) in FY2023.

Distribution per unit (DPU) stood at $0.048 (£0.0287), marking a 5.0% increase from FY2023. This growth was driven by a steady rise in portfolio valuation and a stronger financial position.

The record date for the H2 2024 distribution of $0.025 (£0.0147) is 18 February, with payment scheduled for 28 March.

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