Suntec Reit Q1 DPU rises 16.2% to 2.045 Singapore cents on stronger operational performance

Singapore

SUNTEC Real Estate Investment Trust's (Suntec Reit) distribution per unit (DPU) increased by 16.2 per cent to 2.045 Singapore cents for its first quarter ended March 31, from 1.76 cents in the same period last year.

Gross revenue edged up 0.2 per cent on year to S$87.1 million for the quarter, from S$86.9 million. Net property income rose 10.2 per cent to S$59.5 million for the quarter, from S$54 million a year earlier. This was due to stronger operational performances, the Reit manager said in an exchange filing on Friday.