LMIRT's NPI falls 6.5% YoY to $28.6m in 9M on higher operating expenses
In 9M 2023, LMIRT recorded an NPI of $30.6m.
Lippo Malls Indo Retail Trust’s (LMIRT) net property income (NPI) declined by 6.5% YoY to $28.6m in 9M 2024 amidst higher property operating expenses.
In 9M 2023, LMIRT recorded a NPI of $30.6m.
The company’s gross revenue also dropped, declining by 4% YoY to $48m.
LMIRT attributed the decline in its gross revenue to a 5.0% YoY depreciation of the Singapore Dollar against the Indonesian Rupiah (IDR).
Meanwhile, the trust had higher rental reversions of 7.9% year-to-date and improved portfolio occupancy of 80.1%.