Charter Hall Retail REIT reported a statutory loss of $42.1 million for the first half of FY24, compared to a profit of $124.8 million in the prior-year period.

The decline in profit was attributed to factors such as increased finance costs, non-cash items like a revaluation decrement on investment properties, and a net loss on derivative financial instruments.

Despite the loss, revenue from ordinary activities increased 2.2% to $109.4 million. Operating earnings fell to $78.6 million, driven by higher finance costs but partially offset by like-for-like rental growth.

The REIT declared an interim distribution of 12.30 cents per unit, slightly lower than the previous period's 13 cents per unit.