SFS Real Estate Investment Trust (SFS REIT) recorded strong financial performance in the 2024 financial year, reporting a 50.26% increase in net income to N477.09 million. The growth was driven by rental income, strategic property disposals, and interest income.
The improved earnings led to a dividend payout of N21.50 per unit, up 48.28% from N14.50 in 2023. Gross revenue for the year rose to N554.91 million from N395.42 million in the previous year.
The fund manager attributed the performance to stable rental income and focused asset management.