BHG Retail Reit reports 5.7% drop in DPU for Q3

BHG Retail Real Estate Investment Trust (BHG Retail Reit) has reported a distribution per unit (DPU) of 1.33 Singapore cents for the third quarter ended Sept 30, 2018, down 5.7 per cent from the 1.41 Singapore cents reported the year before.

Its gross revenue was up 5.1 per cent to S$17.3 million, from S$16.5 million.

Its net property income was 3.5 per cent higher at $10.9 million, compared to $10.5 million a year ago.

Distributable income slipped 0.8 per cent to $5.1 million.

BHG Retail Reit's manager said that despite persistent uncertainties in the international trade environment and ongoing economic reforms in China, China's retail outlook remains positive. 

"Looking ahead, the Reit's strategy remains committed to drive growth organically, pursue potential accretive acquisitions, and deliver long term sustainable returns to our unitholders," it said.