Cambridge trust's Q1 DPU slips 2.1%; annualised yield of 7%

Singapore

CAMBRIDGE Industrial Trust (CIT) reported a 2.1 per cent year-on-year slip in distribution per unit (DPU) to 1.225 Singapore cents for the first quarter ended March 31. This translates to a 7 per cent annualised yield based on CIT's closing price at the end of the quarter.

Net property income (NPI) rose 11.9 per cent from a year ago to S$21.2 million, thanks to full contribution from the acquisition of five properties after the first quarter of 2014 and the completion of asset enhancement works at 3 Pioneer Sector 3 (Phase I) and 21B Senoko Loop (Phase II).