AIMS APAC REIT posts 5.1% YoY higher net property income of $64.3m in 1H24

Despite the higher income, the REIT proposed a 1.1% YoY lower DPU of $0.04650.

AIMS APAC REIT reported a net property income of $64.3m in 1H24, translating to a 5.1% YoY jump from 1H23.

In the same period, the REIT recorded higher distributions to unitholders of $36.1m (+7.1% YoY) and gross revenue of $86.8m (+4.4% YoY).

The REIT attributed the improvement in its financial performance to “higher rental and recoveries from logistics, warehouse and industrial properties.”

The increase, however, was partially offset by lower revenue from the REIT’s Australian properties due to the weakening of the Australian dollar. 

Whilst the company’s NPI margin improved in 1H24, the REIT’s distribution per unit (DPU) fell 1.1% YoY to $0.04650.