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Link REIT widens losses to $3.7b in H1 despite higher NPI

NPI rose by 5.8% YoY.

Link REIT widened its losses attributable to unitholders to $3.7b  in H1 FY 2023/2024 from $3.4b in the previous year despite reporting higher revenue and net property income (NPI).

In H1, the REIT reported a 6.4% YoY higher revenue of $7.2b and a 5.8% YoY increase in NPI to reach $5.4b.

The increases, however, failed to offset the effects of the REIT's declining fair value.

In H1, the valuation of the REIT's investment property portfolio fell by 2.1% compared to 31 March 2024 to $231.1b.

The REIT attributed the decline to capitalisation rate expansion for most properties.

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