BHG Retail Reit's Q2 DPU flat at 1.35 cents

BHG Retail Reit's distribution per unit (DPU) for the second quarter was flat at 1.35 Singapore cents, the company said in a filing to Singapore Exchange on Tuesday evening.

Income available for distribution increased 4.4 per cent to S$4.92 million from the year-ago period as higher rental reversion and an increase in occupancy rates boosted results. This came despite the introduction of a nationwide VAT reform in China, which came into effect from May 1, 2016.

Gross revenue for the three months ended June 30 grew 3.2 per cent to S$15.86 million from the preceding year. Net property income rose 5.7 per cent to S$10.9 million.

BHG's initial portfolio comprises retail properties in China, including Beijing Wanliu Mall.

A DPU of 2.74 Singapore cents for the six months ended June 30 will be paid out on Sept 27.

BHG units finished half a cent higher at S$0.74 on Tuesday.