Cromwell European REIT (CEREIT) has posted distributable income of EUR46.2 million for the 1HFY2021 ended June, up 3.6% y-o-y.

The higher distributable income followed 5.7% y-o-y growth in gross revenue to EUR99 million for the period, driven by newly-acquired assets in Italy, the Czech Republic and Slovakia.

Net property income (NPI) came in at EUR64.3 million, growing 11.4% y-o-y due to the higher revenue and the absence of doubtful debt provisions in 1H2021.

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