Keppel Reit H1 DPU falls on higher property expenses, borrowing costs

KEPPEL Reit’s distribution per unit (DPU) fell by 2.4 per cent to S$0.029 for the first half of the 2023 financial year ended Jun 30, down from S$0.0297 the year before, its manager said on Tuesday (Jul 25). 

Distributable income from operations fell 10.5 per cent to S$99 million and was lower due mainly to higher property expenses and borrowing. 

Property income rose 4.7 per cent to S$114.9 million due to higher rentals and portfolio occupancy, the manager said.