Kingston Properties Limited (JSE: KPREIT) reported a strong start to its 2026 financial year, driven by recurring rental income growth, improved operating efficiency, and continued expansion of its international real estate platform.
For the three months ended March 31, 2026, rental income increased 31.7% year-over-year to US$1.82 million (Q1 2025: US$1.38 million). Results of operating activities before other income rose 50.9% to US$1.26 million. Operating expenses increased only 4.1% to US$0.61 million, lifting operating margin to 67% (Q1 2025: 58%). FFO grew 23.6% to approximately US$0.64 million. Portfolio occupancy held at 98%.
The UK segment delivered standout results — rental income rose to US$384,046 from US$144,757 (up over 165%), with segment profit of US$309,376 versus a loss of US$12,078 in Q1 2025.
“The first quarter results demonstrate a clear strengthening of the Group’s underlying earnings profile with meaningful rental income growth, well controlled operating expenses, and a more visible contribution to the Group’s recurring results from our UK assets.” — Kevin G. Richards, CEO
“KPREIT maintains a strong and flexible balance sheet, with total assets increasing to US$98.42 million and improved liquidity supported by cash balances of US$4.29 million.” — Andray Francis, CFO
Stock price was up 27% year-to-date as at May 5 and 60% above the prior APO price. Looking ahead, strategic priorities include capital recycling, portfolio enhancement, UK expansion, and continued FFO growth.
Read the full article at Businessuite Online.