SINGAPORE, Feb 4 (Bernama-GLOBE NEWSWIRE) — Lendlease Global Commercial Trust Management Pte. Ltd. (the “Manager”), the manager of Lendlease Global Commercial REIT (“LREIT”), announces its first-half financial results for FY2025.
Financial Performance
Gross revenue and NPI in 1H FY2025 were lower by 13.6% and 19.8% YoY to S$103.6 million and S$74.9 million respectively. This was mainly attributed to the absence of Supplementary Rent in relation to the lease restructure of Sky Complex that was received and recognised upfront in December 2023. On a proforma basis after adjusting³ for the Supplementary Rent, gross revenue for 1H FY2025 was 0.4% higher whilst NPI was 2.2% lower YoY.