Improving Occupancy, Higher Rental, and Recovery in Retail Underpin Champion REIT's Solid Result
Improving occupancy level at Three Garden Road, rising rental growth, and a recovery in retail sales in Hong Kong underpins Champion REIT's solid second-half fiscal 2017 result. For the full year, rental income increased 5.7% to HKD 2.43 billion and largely in line with our HKD 2.46 billion forecast. Tight cost control saw net property income increase at a faster pace at 6.9% to HKD 2.17 billion. Distribution per unit was up 5.8% to HKD 0.2426. Both assets were revalued higher on more optimistic...
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