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MAPLETREE Commercial Trust's net property income rose 51.2 per cent in its fiscal fourth quarter on contributions from recently acquired Mapletree Business City I, lifting distribution per unit by 11.9 per cent to 2.26 Singapore cents per share.
Net property income grew to S$83.2 million for the three months ended March 31, 2017, beating its own forecast of S$82.8 million by 0.5 per cent.
After deducting fees and expenses, net income rose 59.5 per cent to S$58.9 million during the quarter. Income available for distribution grew 50.4 per cent to S$64.6 million.
For the full year, net property income increased 32.4 per cent to S$292.3 million, while income available for distribution grew 31.7 per cent to S$227.2 million. Total payout for the year is 8.62 Singapore cents per share.