Mapletree Commercial Trust's Q1 DPU rises to 2.23 cents

POSITIVE contributions from VivoCity, Mapletree Anson and PSA Building as well as the accretive acquisition of Mapletree Business City I boosted results for Mapletree Commercial Trust (MCT) in its first quarter.

Distribution per unit (DPU) edged up to 2.23 Singapore cents from 2.03 Singapore cents in the preceding year, the group said in a Singapore Exchange filing on Thursday evening.

That came as Q1 income available for distribution surged 48.2 per cent to S$64.4 million from the previous year.

For the three months ended June 30, gross revenue shot up 46.9 per cent to S$107.8 million from the previous year. Net property income (NPI) rose 49.6 per cent to S$84.2 million from the year-ago period.

MCT units finished S$0.01 or 0.6 per cent up at S$1.63 on Thursday.