Cambridge Industrial Trust Q4 DPU up 0.1%; gross revenue rises 12.6%

CAMBRIDGE Industrial Trust on Friday reported a distribution per unit (DPU) of 1.252 Singapore cents for the fourth quarter ended Dec 31, 2014. This was just 0.1 per cent higher than its DPU of 1.251 Singapore cents in Q4 2013.

Gross revenue during the quarter improved 12.6 per cent from Q4 2013 to S$26.22 million, while net property income grew 3 per cent to S$19.52 million.

According to Cambridge's manager, the improvement in gross revenue was mainly due to "additional revenue from property acquisitions and newly developed properties, net of divestments, and rent escalations to several properties during the year".

Cambridge closed half a cent lower at 68 Singapore cents on Thursday.

The group has a portfolio of 50 properties located across Singapore, with around 168 tenants across various business sectors, including logistics, warehousing, car showroom and workshop, and general industrial properties.