Keppel DC Reit’s H2 DPU up 4.8% to S$0.05165

DATA centre-focused Keppel Data Centre (DC) Reit on Tuesday (Jan 31) posted a 4.8 per cent increase in distribution per unit (DPU) to S$0.05165 for the second half ended Dec 31, 2022, from S$0.04927 in the corresponding period a year ago.

Gross revenue was up 4.3 per cent to S$141.8 million for the half-year period, from S$135.9 million a year ago. Net property income (NPI) grew 4 per cent on the year to S$129.3 million for the half year, from S$124.3 million. Distributable income rose 7.3 per cent year on year to S$93.7 million, from S$87.4 million.

In a bourse filing, the real estate investment trust’s (Reit) manager said that the growth in distributable income was mainly due to a number of contributions: from the accretive acquisition of London Data Centre; Guangdong Data Centres 1, 2 and 3; the investment in bonds issued by M1 Network; the contributions from post asset enhancement initiatives at DC1 and the Dublin assets; as well as the completion of Intellicentre 3 East Data Centre.