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Parkway Life Reit Q1 DPU down 7% to 2.99 Singapore cents

PARKWAY Life Reit's distribution per unit (DPU) for the first quarter ended March 31, 2016, fell 7 per cent to 2.99 Singapore cents, from 3.21 Singapore cents for the same period a year ago.

This was due to the absence of one-off distribution of divestment gain that was recorded for the corresponding period a year ago, the healthcare Reit said.

Net property income rose, however, rose 8.5 per cent from the year-ago quarter to S$25.14 million.

"The long-term prospects of the regional healthcare industry continue to be driven by rising demand for better quality private healthcare services given the fast-ageing populations," said Parkway Life Reit.

Still, it expects challenges in acquisition opportunities, given market volatility.