Parkway Life Reit posts 14 per cent rise in DPU for Q1

PARKWAY Life Reit turned in a 14 per cent year-on-year increase in distribution per unit (DPU) to 3.21 Singapore cents for Q1 2015 as distributable income rose 14 per cent to S$19.46 million.

The healthcare Reit's gross revenue edged up 0.7 per cent to S$24.77 million, lifted slightly by higher rent from its Singapore properties. This translated into a net property income of S$23.17 million, which was 0.8 per cent higher.

Earnings per unit for the quarter came to 2.71 Singapore cents, up slightly from 2.70 cents.

Meanwhile, annualised DPU worked out to 12.84 Singapore cents, versus 11.28 cents previously.

"The long-term prospects of the regional healthcare industry will continue to be robust due to rising demand for better quality private healthcare services driven by the fast-ageing populations," it said, adding that its portfolio of 47 high-quality healthcare and health-related assets as well as its favourable rental lease structures in Singapore and Japan put it in good stead to benefit from Asia's growing healthcare industry.

The Q1 2015 DPU is payable on May 29.