Kingston Properties Limited delivered a solid start to the 2026 financial year, with rental income up 31.7% year-over-year to US$1.82 million (Q1 2025: US$1.38 million). Funds From Operations (FFO) grew 23.6% to approximately US$0.64 million, supported by a larger recurring rental income base.
Net profit came in at US$0.66 million, down from US$1.00 million in Q1 2025 — a comparison influenced by one-off fair value and disposal gains in the prior period. Operating expenses rose only 4.1% to US$0.61 million, lifting operating margin to 67% from 58%.
Portfolio occupancy stood at 98% across all markets. The UK segment was the standout: rental income increased over 165% year-over-year to US$384,046, with segment profit of US$309,376.
Total assets climbed to US$98.42 million, with cash balances of US$4.29 million. KPREIT’s stock price was up 27% year-to-date as of May 5, and 60% above the prior APO price of J$7.50.
“The first quarter results demonstrate a clear strengthening of the Group’s underlying earnings profile with meaningful rental income growth.”
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