Mapletree Commercial Trust Q2 DPU up 1.3%

MAPLETREE Commercial Trust's second-quarter distribution per unit (DPU) was 1.3 per cent higher at 2.27 Singapore cents, up from 2.24 cents a year ago.

Gross revenue for the three months ended Sept 30 rose 2.5 per cent to S$109.92 million while net property income (NPI) was up 2.2 per cent to S$86.26 million. The results were bolstered by higher contributions from VivoCity, Mapletree Business City I and Bank of America Merrill Lynch HarbourFront. Income available for distribution increased 1.3 per cent to S$65.56 million.

For the six months ended Sept 30, DPU clocked 4.5 Singapore cents versus 4.47 cents a year ago. Gross revenue edged up 1.6 per cent to S$218.45 million, while NPI rose 2.1 per cent to S$172.2 million. Income available for distribution was higher by 0.9 per cent at S$130.17 million.

DPU for the quarter is payable on Nov 29.

Units in Mapletree Commercial Trust closed at S$1.61 on Wednesday, up one cent.