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Mapletree Commercial Trust's 4Q DPU up 0.01 cent

DISTRIBUTION per unit (DPU) for office and retail owner Mapletree Commercial Trust in its fourth quarter ended March 31 crept up to 2.27 Singapore cents from 2.26 Singapore cents.

That came as Q4 income available for distribution crept up 0.4 per cent to S$64.8 million from the preceding year.

Its gross revenue edged up 1.3 per cent to S$108.9 million from the year-ago period, thanks to higher contribution from VivoCity, Mapletree Business City I in Alexandra (MBC I) and Bank of America Merrill Lynch HarbourFront (MLHF), offset by lower contribution from Mapletree Anson and PSA Building.

Net property income increased to 1.2 per cent to S$84.3 million from the previous year.

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For the full year, DPU rose to 9.04 Singapore cents from 8.62 Singapore cents, as income available for distribution increased 14.6 per cent to S$260.4 million from the previous year.

Gross revenue for the year increased 14.8 per cent to S$433.5 million from the preceding year. Net property income expanded 15.9 per cent to S$338.8 million from the previous year.

Besides MBC I and MLHF, MCT's properties include VivoCity, PSA Building and Mapletree Anson.

MCT units ended unchanged at S$1.60 on Tuesday.