Suntec REIT's DPU Up 24% in Q1

MT Newswires

04/24

Suntec REIT's (SGX:T82U) distribution per unit or DPU jumped 24% in the first quarter of the year to SG$0.01936 from SG$0.01563 a year earlier, according to a Thursday filing with the Singapore Exchange.

Shares of the REIT were up over 1% in Friday trading.

Distributable income rose 25% to SG$57.3 million from SG$45.9 million.

Net property income was up by 0.3% to SG$77.3 million compared with SG$77.1 million in the year-ago period.

Gross revenue rose 1.9% year over year to SG$115.6 million from SG$113.5 million, backed by strong operating performance.

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