GLP J-REIT (3281.T), a Japanese real estate investment company, on Monday reported a decline in net earnings and revenue for the first half.
For the six-month period to February 28, the company recorded a net income of JPY 14.896 billion, less than JPY 15.045 billion in the same period last year. Net income per unit stood at JPY 3,104 as against the previous year's 3,105 per unit. Revenue was JPY 28.821 billion, down from last year's JPY 29.077 billion.
Looking ahead, for the six-month period to August 31 (second half or H2), the company expects a net income of JPY 13.891 billion, down 6.7% from the first half. GLP J-REIT projects revenue of JPY 28.553 billion for the second half, which is down 0.9% from the first half.
For the six-month period to February 28, 2027 (first half), the company expects a net profit of JPY 13.909 billion, up 0.1% from the second half of the prior year. GLP J-REIT projects revenue of JPY 28.207 billion, which is down 1.2% from the second half of last year.
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