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Link REIT fiscal-year profit falls 57.4% YOY

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Link REIT fiscal-year profit falls 57.4% YOY

Link Real Estate Investment Trust said its profit attributable to unit holders for the full year ended March 31 came to HK$20.33 billion, a fall of 57.4% from the HK$47.76 billion it recorded in the prior-year period.

The Hong Kong-listed real estate investment trust's total comprehensive income totaled HK$18.78 billion compared with the HK$49.86 billion a year earlier.

Revenue during the comparable period inched up to HK$10.04 billion from HK$10.02 billion, while its net property income rose to nearly HK$7.69 billion from about HK$7.66 billion.

The company's total distributable amount, after adjustments and a discretionary capital distribution of HK$53 million, amounted to HK$5.72 billion, while its distribution per unit jumped 8.6% year over year to 271.17 Hong Kong cents from 249.78 cents.

In reporting results, Link REIT noted that the valuation of its investment properties portfolio grew 7.6% on an annual basis to approximately HK$218.50 billion from roughly HK$203.09 billion.