Keppel Reit Q1 distributable income up 4.3% to S$53.8m

KEPPEL real estate investment trust (Reit) posted a 4.3 per cent increase in its first-quarter distributable income from operations to S$53.8 million, from S$51.6 million a year earlier.

In its Q1 business update on Wednesday (Apr 20), the Reit's manager attributed the increase in distributable income mainly to the acquisition of Keppel Bay Tower in May last year.

This was partially offset by the impact from its divestment of 275 George Street in Brisbane, Australia last July.