SPH Reit maintains Q2 DPU; net income up 5.2%

Singapore

SPH Reit's second-quarter net property income increased by 5.2 per cent year-on-year to S$42.7 million as the retail real estate investment trust adjusted its utility contract and enjoyed a lower property tax burden.

Income available for distribution increased by 2.4 per cent to S$37.3 million for the quarter ended Feb 28, 2017, while distribution per unit held at 1.40 Singapore cents, said SPH Reit, whose sponsor, Singapore Press Holdings (SPH), owns The Business Times.