Soilbuild Reit DPU down 9.4% at 1.245 cents

Singapore

SOILBUILD Business Space Reit on Wednesday announced a distribution per unit (DPU) of 1.245 Singapore cents for the third quarter ended Sept 30, down 9.4 per cent from Q3 2017's 1.374 Singapore cents.

Income attributable to unitholders fell 8.6 per cent to S$13.2 million from S$14.4 million in the year-ago period. Earnings per unit for the quarter were 1.072 Singapore cents, down from 1.188 Singapore cents.

Gross revenue was S$19.8 million, down 3.6 per cent year-on-year from S$20.5 million, while net property income fell 8.8 per cent year-on-year to S$16.2 million from S$17.8 million. Soilbuild Reit attributed this mainly to the divestment of KTL Offshore and lower contribution from West Park BizCentral and Eightrium, partially offset by highe…