The group’s 3QFY2024 revenue fell by 7.1% y-o-y to $25.1 million, while net property income stood at $22.8 million, down 7.8% y-o-y.
EC World REIT has reported a calculated distribution per unit (DPU) of 0.401 cents for the 3QFY2024 ended September, down 56.2% y-o-y from the same period last year. Calculated DPU for the 9MFY2024 stood at 2.072 cents, 30.2% lower y-o-y.
Calculated distributable income for the 3QFY2024 stood at $3.2 million, down 56.2% y-o-y. This came on the back of lower revenue and higher finance cost within the quarter. Finance costs rose by 22.3% y-o-y to $14.4 million, due to higher interest rate for offshore facilities in the quarter.
