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Champion REIT's income up 162% in H1

Aug. 10, 2009 (China Knowledge) - Champion Real Estate Investment Trust<2778>, a trust formed to own and invest in income-producing office and retail properties, has said that its distributable income surged 162% year on year to HK$609 million in the first half of this year, the Standard reported on Friday.

A spin-off of Great Eagle Holdings<0041>, the real estate enterprise noted that because it bought Langham Place in June 2008 for HK$12.5 billion, the second half of last year is a period more comparable to its performance in the first half of 2009 than the first. In the second half of 2008, the company's total distributable income stood at HK$621 million.

Distribution per share was 13.14 HK cents for the first half, compared with 13.94 HK cents in the same period of last year.

Champion REIT earlier reported that its income net income rose from HK$669.8 million in 2007 to HK$1.41 billion in 2008, representing a sharp increase of 110.2%, according to an earlier report from China Knowledge.


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