SPH REIT's property on Orchard Road, Paragon. (Photo: REITsWeek)

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.

To read the full article, please login or register.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.