Sirius Real Estate Limited (LSE:SRE, JSE:SRE, OTC:SRRLF) saw a notable increase in both funds from operations (FFO) and net asset value (NAV) in the six months ending 30 September.
FFO grew by 14.5% year-on-year to €60.7 million, while adjusted NAV per share saw a 1.2% to 112.49 euro cents from 111.12 euro cents in March.
This growth reflects Sirius’ ongoing efforts in asset management and portfolio optimisation.
Total revenue increased by 11.7% to €156.50 million, while total annualised rent roll rose by 14.9% to €214 million.
Sirius’ profit before tax also saw a significant jump, climbing 53.8% to €61.2 million.
As a result of the strong result, Sirius raised the interim dividend by 2%, bringing it to 3.06 euro cents per share.
Chief executive Andrew Coombs stated: “These results deliver robust performance over the first six months of the financial year, achieving like-for-like rent roll growth well ahead of inflation and a 14.5% year-on-year increase in FFO.
“This has underpinned our decision to make our second consecutive interim dividend increase and is testament to Sirius’ proven ability to drive organic growth through intensive asset management, reinforced by resilient occupier demand for space within our portfolio, alongside the contribution from our acquisitions.”