Mapletree Commercial Trust DPU for Q2 up 16.5%

MAPLETREE Commercial Trust's distribution per unit (DPU) rose to 1.801 cents in the fiscal second quarter, up 16.5 per cent higher from a year earlier, thanks to positive contributions from all its properties and a new revenue stream from Mapletree Anson which was acquired on Feb 4. The DPU was 12.8 per cent higher than its forecast. Distributable income grew 29.1 per cent to $37.3 million for the three months ended Sept 30.

Boosted by higher rental rates from renewed leases at VivoCity and higher occupancy and positive rental reversion at PSA building, gross revenue rose 27.1 per cent to $65.8 million. Similarly, net property income climbed 31.4 per cent to $47.9 million.