SF REIT (02191) has released its final results for the year ended December 31, 2025. The trust recorded revenue of HK$460 million, an increase of 2% year-on-year. Net property income reached HK$383.7 million, up 6.2% compared to the previous year. Distributable income amounted to HK$240 million, rising 2.4% year-on-year, with a distribution per unit of 26.33 HK cents.
Total distributable income for the year increased by 2.4% to HK$240 million (2024: HK$234.4 million). This figure represents the loss before transactions with unit holders, adjusted to exclude the impact of adjustments specified in the trust deed. These adjustments primarily include fair value losses on investment properties, fair value losses on financial instruments (non-cash settlement portion), and deferred tax credits.
To continuously enhance financial strength, the board has resolved to maintain a distribution ratio of 90%. A final distribution of 13.22 HK cents per unit has been declared for the period from July 1, 2025, to December 31, 2025 (final distribution per unit for 2024: 12.69 HK cents). Combined with the previously declared and paid interim distribution, the total annual distribution per unit will be 26.33 HK cents (2024: 27.40 HK cents).
Based on the closing unit price of HK$2.80 on the last trading day of the year, the distribution yield amounts to 9.4%.
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