According to the Zhitong Finance App, Regal Industrial Trust (01881) issued an announcement. Regal Industrial Trust is expected to obtain a profit of approximately HK$265.7 million before undistributed to unitholders for the year ended December 31, 2023, and a profit of HK$929.9 million in the 2022 fiscal year.
The decrease in profit was mainly due to changes in the fair value of Regal Industrial Trust's investment properties, which led to a decrease in revaluation earnings, from the final results of 2022 of HK$754.7 million to HK$366.9 million in 2023, and a sharp rise in the Hong Kong interbank interest rate in the second half of 2023, which led to a significant increase in the financial expenses of Regal Industrial Trust's interest-bearing bank loans.
As a result, Regal Real Estate Trust expects to achieve an adjusted loss of approximately HK$127.6 million in 2023 (2022 - total revenue available for distribution is HK$204.8 million), which excludes any distribution during the year.
