Lippo Malls Indonesia Retail Trust posts flat DPU for Q3 at 0.86 cents

LIPPO Malls Indonesia Retail Trust (LMIRT) distribution per unit for the three months to September was flat at 0.86 Singapore cents.

Revenue came in 5.5 per cent higher at S$49.6 million from S$47 million a year ago while net property income rose 7.1 per cent to S$46.4 million. This was led by contributions from Lippo Mall Kuta and Lippo Plaza Kendari, which were acquired in December 2016 and June 2017 respectively, as well as positive rental reversions, said the company.

For the nine month period, DPU rose 3.9 per cent to 2.64 Singapore cents from 2.54 Singapore cents.

The counter inched up by 0.5 Singapore cent or one per cent to close at 44 Singapore cents on Thursday.