Newmark Property REIT (ASX: NPR) has unveiled its financial performance for the fiscal year concluding on June 30, 2023. During this period, NPR reported operating earnings of AU$14.0 million, showcasing a noteworthy increase of AU$0.7 million (5.5%) when compared to the corresponding timeframe. This growth was primarily fuelled by a 3.4% expansion in like-for-like income and the incorporation of full-period contributions from its Melton and Chadstone properties.
However, NPR also recorded a statutory net loss of AU$ 8.9 million for the year, signifying a substantial decrease of AU$ 60.7 million compared to the prior comparable period. This loss was largely attributed to a net fair value reduction of AU$ 21.9 million on its investment properties. Despite the evolving market dynamics, NPR's portfolio of premium properties has exhibited remarkable resilience. The portfolio maintains a commendable 100% occupancy rate and demonstrates robust underlying income growth.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
