Revenue for the 1QFY2024 inched up by 0.8% y-o-y to GBP9.2 million with the growth in rent escalations offset by non-income generating vacant assets and vacancy holding costs. The increase in vacancy holding costs was due to timing, says the REIT manager.
The manager of Elite Commercial REIT has reported a distribution per unit (DPU) of 0.67 British pence (1.1 cents) for the 1QFY2024, 21.2% lower y-o-y due to an enlarged equity base from the preferential offering completed on Jan 18.
Distributable income fell by 3.5% y-o-y to GBP4.4 million.
