SPH REIT reports marginal growth in 4Q 2017 DPU

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SPH REIT has announced a DPU of 1.42 Singapore cents for its 4Q 2017, a marginal increment of 0.7% over the 1.41 cents achieved in the corresponding period of 2016.

Gross revenue for the quarter grew by 1.3% to SGD52.9 million, while the REIT’s net property income (NPI) increased by 3.9% to SGD41.8 million.

Accordingly SPH REIT’s aggregate DPU of 5.53 cents for FY2017 was 0.5% higher against what was achieved in the previous financial year.

Meanwhile, gross revenue for the year ended 31 August 2017 grew by 1.5% to SGD212.8 million, while full-year net property income of SGD168.1 million was 4.5% higher than 2016.

SPH REIT has attributed the increase in gross revenue to higher rental income from both its properties.

“Both properties continued their track record of full occupancy amid a competitive arena with headwinds in the retail landscape”, said the REIT in its statement on the results.

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