Grit Real Estate Income Group Limited (GB:GR1T) has released an update.
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Grit Real Estate Income Group has showcased resilience in its latest financial results despite global economic challenges, with a notable 9.8% increase in property portfolio revenue. The Group’s strategic acquisition of a majority stake in GREA has strengthened its position, although rising interest rates have raised the cost of debt and led to a suspension of dividends. Cost efficiency measures have successfully reduced administrative expenses by 14%, reinforcing Grit’s commitment to sustainable growth and value creation for shareholders.
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