Cambridge Industrial Trust Q1 DPU down 9.7%

CAMBRIDGE Industrial Trust's distribution per unit slipped 9.7 per cent to 1.004 Singapore cents in the first quarter of 2017, the manager of the trust said in a Singapore Exchange filing on Tuesday.

For the three months ended March 31, 2017, its gross revenue was S$27.7 million, a marginal drop of 2.2 per cent from the same period a year ago.

Its net property income fell 8.4 per cent to S$19.7 million mainly due to the impact of several master leased properties that were converted into multi-tenancy properties in the 2016 financial year, as well as impact from recent divestments, it said.

The net asset value of the group remains at 63.4 Singapore cents, unchanged from the previous quarter.