Revenue and NPI of the Hong Kong portfolio registered a growth of 2.2% and 0.1% year-on-year respectively, attributable to improved performance in Hong Kong car parks, partially offset by weaker office performance. Retail occupancy rate stood high at 98.0%.
Link REIT announced 11% y-o-y growth in revenue to HK$13,578 million ($2,343.83 million) in FY2024, for the 12 months to March 31, and net property income (NPI) growth of 9.5% to HK$10,070 million.
For the full year, total distributable income rose by 6.4% to HK$6,718 million. Final DPU was 11.6% higher y-o-y at 132.57 HK cents. However, full-year DPU fell 4.3% to 262.65 HK cents due to an expanded number of units. Net gearing ratio maintained at a low level of 19.5%, and net asset value (NAV) declined by 5.4% to HK$70.02.
