AIMS AMP Capital Industrial Reit posts DPU of 2.92 cents for Q4 FY15

AIMS AMP Capital Industrial Reit chalked up a 16.3 per cent year-on-year increase in distribution per unit (DPU) to 2.92 Singapore cents for the fourth quarter of FY15.

Distribution to unitholders climbed 17.8 per cent to S$18.37 million for the quarter under review.

Gross revenue was 2.1 per cent higher at S$30.09 million due to a full quarter of contribution from Phase Three of 20 Gul Way and higher rental rates and recoveries for new and renewal leases at 29 Woodlands Industrial Park. Meanwhile, net property income climbed 5.5 per cent to S$20.31 million.

"The fourth quarter result was boosted by a full quarter's rental contribution from Phase Three of 20 Gul Way, and renewal of leases representing 15,646.7 sqm at a weighted average rental increase of 6.8 per cent on renewals," said chief executive of the Reit's manager, Koh Wee Lih. "Additionally, we maintained high occupancy of 95.8 per cent, and we continue to be above the industry average of 90.7 per cent."

For the full FY15, DPU came to 11.07 cents, up 5.1 per cent, and distribution to unitholders climbed 21 per cent to S$69.2 million. Net property income for FY15 was 11.3 per cent higher at S$80.01 million as gross revenue grew 6.6 per cent to S$115.43 million.