Charter Hall REIT sees 0.7% fall in DPU for 1H 2018

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Charter hall REIT has declared a distribution per unit (DPU) of 14.00 Australian cents for its 1H 2018, a marginal fall of 0.7% from the 14.1 cents recorded for the corresponding period of the previous financial year.

The REIT’s funds from operations (FFO) increased by 0.3% year-on-year to AUD61.9 million (USD49 million) from AUD61.7 million in 1H 2017, while net income, including property income and income from joint ventures, came in at AUD87.6 million, up about 6.1%.

The growths in FFO and net income came on the back of efforts by the retail-heavy REIT to reposition its portfolio for growth.

“We have repositioned the portfolio for growth a process that began 18 months ago”, said Charter Hall REIT.

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