Gross revenue fell by 1.9% y-o-y to EUR106.3 million for the 1HFY2024 while net property income (NPI) fell by 4.4% y-o-y to EUR65.5 million.
Cromwell European REIT (CEREIT) has reported a distribution per unit (DPU) of 7.05 Euro cents (10 cents) for the 1HFY2024 ended June 30, 9.5% lower y-o-y.
Distributable income also fell by 9.5% y-o-y to EUR39.6 million due mainly to the impact of the asset sales and higher interest costs over the past two years, says Simon Garing, CEO of the manager. The lower distributable income and DPU was partly offset by net property income (NPI) growth from indexation, positive rent reversions and lower expenses.
