Cambridge Industrial's Q2 DPU down 2.1%

Trust manager cites higher property expenses and borrowings costs, and increase in units in issue


CAMBRIDGE Industrial Trust's distribution per unit (DPU) for the second quarter fell 2.1 per cent to 1.225 Singapore cents.

This was despite distributable income expanding 0.5 per cent to S$15.8 million in the three months ended June 30, 2015.

Gross revenue climbed 13.2 per cent to S$27.8 million while net property income (NPI) rose 9.9 per cent to S$21.6 million in the same period.

Asked why DPU fell, the trust manager said the increase in NPI was moderated due to higher property expenses...

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