Keppel DC Reit's maiden distributable income above forecast

KEPPEL DC Reit, which listed last December, has reported its maiden distributable income of S$17.2 million for the period from Dec 12, 2014 to March 31, 2015. This was 1.3 per cent above its earlier forecast of S$16.9 million.

Its distribution per unit (DPU) of 1.94 Singapore cents for the period will be added to its DPU for the next reporting period. Keppel DC Reit pays its distributions on a half-yearly basis. The first distribution will be paid by September 28, 2015 at the latest.

The Reit's gross revenue of S$31.2 million was 3 per cent above forecast; net property income (NPI) of S$26.2 million was also 2 per cent above forecast.

"The higher NPI and distributable income were mainly due to non-recurring service income generated from Citadel 100 Data Centre and Gore Hill Data Centre, as compared to the IPO (initial public offering) forecast," the Reit said.

Units of the Reit closed half a cent lower at S$1.015 on Thursday.