Parkway Life REIT's NPI falls 2.5% YoY to $68.4m in H1 2024

Despite lower NPI, the REIT declared a 3.5% YoY higher DPU.

Parkway Life REIT recorded a 2.5% YoY lower net property income (NPI) of $68.4m in H1 2024.

The REIT attributed the decline to its 2.7% YoY lower gross revenue of $72.4m dragged by the Japanese Yen (JPY) depreciation.

Despite lower NPI, the REIT recorded an improved distributable income to unitholders and distribution per unit (DPU).

DPU for the period was $0.0754, 3.5% YoY higher than the H1 2023 record of $0.0729. Meanwhile, distributable income was also 3.5% YoY higher at $45.6m.

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