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Strong performance considering the challenging operating environment. IPF delivered 1.3% year-on-year growth in base net property income for the six months ended 30 September 2019. Net asset value per share grew by 1.5% while vacancy ticked up marginally to 3.9% from 2.4% in March 2019. A final distribution of 70.93 cents per share for the period was declared, resulting in year on year distribution growth of 3.1%.
Growth in earnings available for distribution
Increase in net asset value (NAV)
Vacancy (Sep 2019: 3.9%)
Gearing (Sep 2019: 37.3)