Consumers feeling the pinch and stubbornly high borrowing costs cut Charter Hall Retail REIT’s earnings by 4.7 per cent in 2023-24 and would push profitability lower again this year, the landlord says.
The ASX-listed real estate investment trust on Friday said operating earnings, a key measure of profitability, fell to $159 million last year from $166.9 million in FY23, pushing operating earnings per unit down to 27.4¢ from 28.7¢.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
