Regal Real Estate Investment Trust provided earnings guidance for the six months ended June 30, 2023. The company announced that, based on the preliminary review by management of the Regal Portfolio Management Limited (the ?REIT Manager?) on the unaudited consolidated management accounts of the company for the six months ended 30th June, 2023 (the ?Interim Period?), the company is expected to record for the Interim Period a profit before distribution to Unitholders of approximately HKD 105.0 million, as compared to a profit of HKD 613.1 million in the corresponding period in 2022. The decrease in profit was mainly due to the reduction in the revaluation gain from the fair value changes on the company?s investment properties from HKD 444.3 million recorded in the interim results for 2022 to HKD 120.0 million for the Interim Period as well as the substantial increase in the financial expenses incurred, as the Hong Kong Interbank Offered Rates, on which the borrowing costs of the company?s bank loans are based, has risen rapidly since the second quarter of this year.

Consequently, the company is also expected to record a negative distributable income attributable to Unitholders of approximately HKD 19.0 million for the Interim Period, as compared to a total distributable income of HKD 183.1 million attained in the corresponding period last year.