NSE listed Local Authorities Pension Trust (LAPTRUST) Imara I-REIT has issued a profit warning indicating that earnings for the period ended December 2025 are projected to decline by at least 25% compared to the prior year.
LAPTRUST Imara I-REIT attributed the anticipated profit dip to a decline in gross rental revenue. In a statement, the I-REIT noted that the profit fall is based on the REIT’s management accounts for the period ended October 2025 and an early assessment of the information at hand.
“The reduction in profitability is based on the REAT’s management accounts for the period ending October 2025 and a preliminary assessment of the information currently available,” read the statement.
LAPTRUST Imara I-REIT FY 2024 Performance
In the period ended 31 December 2024, LAPTRUST Imara I-REIT recorded a loss of KES 204.3 million compared to profit of KES 57.2 million in 2023. Rental income rose sharply by 57% to KES 479.1 million, attributed to the new acquisition of a prime Nairobi office in March 2024 costing KES 2.0 billion expected to generate KES 150 million annually.
Total operating expenses for the review period stood at KES 296.6 million, up 68% compared to 176.4 million recorded in FY’2023. The surge in expenses was mainly driven by KES 80.0 million incurred in utility expenses, KES 65.2 million in property expenses, and KES 151.4 million in fund operating expenses. Total equity declined by 7.6% to KES 6.5 billion.
Also Read: CBK Treasury Bills Maintain Strong Momentum in First 2026 Auction
