Fortune Reit's Q4 distributable income up 8.3%

FORTUNE Reit on Wednesday reported an 8.3 per cent increase in income available for distribution to HK$197.2 million (S$33.97 million) for its fourth quarter ended Dec 31, 2014.

This translates to a distribution per unit (DPU) of 10.50 Hong Kong cents, 8 per cent higher than the 9.72 Hong Kong cents that it paid out a year ago.

Its net property income also rose 6.7 per cent to HK$293.5 million, on the back of an 8.4 per cent increase in total revenue to HK$425.7 million.

For the full year, net property income rose 25.1 per cent to HK$1.16 billion, while revenue rose 25.7 per cent to HK$1.66 billion.

Fortune Reit is also dual-listed in Hong Kong. It is managed by ARA Asset Management (Fortune) Limited.

The trust's units closed three Hong Kong cents higher on Tuesday, at HK$8.33 before its earnings were announced.