- Sasseur REIT’s anniversary sales and year-end promotions in 4Q23 were well received as consumers switched to affordable domestic fashion brands and sportwear. Sasseur REIT has de-risked after completing its refinancing and has the lowest aggregate leverage of 25.3%.
- - Read this at SGinvestors.io -
Sasseur REIT's 4Q23 results
- Sasseur REIT (SGX:CRPU) reported DPU of 1.415 cents for 4Q23 (+8.7% y-o-y), which is in line with our expectations. See Sasseur REIT's distribution dates.
- - Read this at SGinvestors.io -
Benefitting from China’s reopening.
- Rental income grew 21.1% y-o-y to RMB170.6m in 4Q23. Fixed component increased 3% y-o-y. Variable component grew 82% y-o-y in tandem with growth in outlet sales of 85% y-o-y.
- In S$ terms, rental income grew 18.4% y-o-y to S$32.0m as RMB depreciated 4.4% y-o-y against the S$.
Chinese consumers switched to domestic fashion brands.
- Read more at SGinvestors.io.
