Link REIT (00823) Surges Over 3% in Afternoon Trading; Interim Distributable Total Up 0.4% Year-on-Year, Distribution Per Unit Rises to 127.25 Hong Kong Cents

Stock News11-12 13:42

According to Zhitong Finance App, LINK REIT (00823) rose over 3% in the afternoon session, reaching 3.23% as of press time to HK$41.5, with a turnover of HK$253 million.

On the news front, LINK REIT announced its interim results for the period ended September this year during the midday break. The total distributable amount increased 0.4% year-on-year to HK$3.295 billion, with distribution per unit at 127.25 Hong Kong cents, up nearly 0.3% year-on-year.

Interim revenue came in at HK$6.909 billion, down 1.6% year-on-year, primarily due to a negative rental reversion rate in Hong Kong, reflecting the lagging recovery in essential consumer goods retail and the ongoing evolution of online consumption patterns. Net property income was HK$5.135 billion, down 0.8% year-on-year.

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