AA Reit's Q4 DPU suffers as property income dips

Singapore

LOWER net property income and higher retained distributions took a toll on the distribution per unit (DPU) of AIMS AMP Capital Industrial Real Estate Investment Trust (AA Reit).

Its DPU for the fourth financial quarter came in at 2.78 Singapore cents, 5.8 per cent lower compared to the corresponding quarter a year ago.

This brings the full-year DPU to 11.05 Singapore cents, a decline of 2.6 per cent from FY2016.

For the three months ended March 31, AA Reit saw its gross revenue creep up 1.1 per cent to S$30.6 million year-on-year, mainly due to the maiden contribution from the newly completed property at 30 Tuas West Road and higher rental contributions from the property at 29 Woodlands Industrial Park E1. It was partially offset by lower rental and recoveries f…