Cromwell European Reit posts Q1 DPU above forecast

Singapore

CROMWELL European Reit's first quarter results were boosted by a better-than-expected performance from its light industrial segment.

Distribution per unit (DPU) for the period from Nov 30, 2017 to March 31, 2018 came in at 1.45 euro cents, 3.5 per cent higher than its initial public offering forecast of 1.4 euro cents, the group said on Thursday.

That came as Q1 income available for distribution was also 3.5 per cent above forecast at 22.8 million euros (S$36.4 million).

Gross revenue was 0.8 per cent above forecast at 41 million euros, while net property income was 2.8 per cent above forecast at…