1HFY25 DPU increased slightly by 0.5% y-o-y to 6.054 cents and met our expectations.
- Although there was a significant 83.2% increase in distributions from investments and finance costs were relatively stable (-1.6%), a larger proportion of management fees taken in cash and provisions taken on a cinema operator (Cathay Cineplexes) resulted in DPU increasing only slightly by 0.5% y-o-y to 6.054 Singapore cents. This formed 50.1% of our initial forecast.
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Solid rental reversions of +9.0%, while
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