MCT's Q1 DPU up 1% at 2.03 Singapore cents

MAPLETREE Commercial Trust (MCT) reported a one per cent increase in distribution per unit to 2.03 Singapore cents for the fiscal first quarter ended June 30.

Gross revenue rose 5.2 per cent to S$73.38 million on the back of positive contributions from VivoCity, Mapletree Anson and PSA Building.

Net property income increased by 3.7 per cent to S$56.28 million, with NPI margin sustained at a healthy level of 76.7 per cent.

"In spite of persisting weaknesses in the retail and office market as well as heightened economic and financial volatilities, our continued focus on active asset management has yielded good results," said Sharon Lim, CEO of the Reit manager Mapletree Commercial Trust Management Ltd (MCTM).

Unitholders can expect to receive the distribution on Aug 29, with the book closure date being Aug 3. MCT units closed one per cent higher at S$1.50 on Tuesday.