Cromwell European REIT (CEREIT) has reported a distribution per unit (DPU) of 4.08 Euro cents for its FY2019.

After adjusting for a rights issue, the DPU represents an increase of 8.8% year-on-year, and a 1.5% outperformance against forecast made during the REIT’s IPO.

For the same period, CEREIT reported gross revenue of EUR177.0 million, exceeding IPO forecast by 39.4%.

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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.