Ascendas Reit Q3 DPU edges down 0.6%

Singapore

ASCENDAS Real Estate Investment Trust (Reit) posted a 0.6 per cent year-on-year dip in distribution per unit (DPU) to 3.97 Singapore cents for the third-quarter of FY2017/2018 due to a one-off property tax refund in the previous year and an increase in the number of units in issue.

Gross revenue rose 4.1 per cent to S$217.28 million for the period under review, while net property income (NPI) was up 1.7 per cent to S$157.63 million. The increase in NPI was on the back of contributions from newly-acquired properties such as 12, 14 and 16 Science Park Drive in Singapore and 100 Wickham Street in Australia, as well as a recently-developed Singapore property, 50 Kallang Avenue.