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Keppel DC Reit Q2 DPU comes in 1.9% above forecast

HIGHER variable rents from its Singapore data centres and other income helped Keppel DC Reit beat its own forecasts in the second quarter.

The data centre landlord's distribution per unit (DPU) came in at 1.62 Singapore cents, 1.9 per cent above the forecast amount.

This was on the back of S$14.27 million in distributable income for the three months to June 30, which was also 1.9 per cent higher than predicted.

Gross revenue was 4 per cent above forecast at S$26.03 million while net property income was 3.4 per cent higher at S$21.93 million for Q2.

The Reit said in a statement that the higher income came from higher variable rental income from the Singapore properties and other income from recovery of power costs and ad hoc service fees charged at its Gore Hill Data Centre in Australia and its Citadel 100 Data Centre in Ireland.

Listed on Dec 12, 2014, it owns eight data centres in total, including two in Singapore.