Suntec Reit's Q1 DPU climbs 2.3%

SUNTEC Real Estate Investment Trust recorded a distribution per unit (DPU) of 2.425 Singapore cents in its first quarter, up 2.3 per cent from a year ago, it said in a Singapore Exchange filing on Wednesday morning.

For the three months ended March 31, its gross revenue climbed 12.9 per cent to S$88.4 million from the preceding year, mainly due to the rental contribution of its Sydney asset, 177 Pacific Highway.

Earnings per unit on a fully diluted basis came in at 1.805 Singapore cents, up from 1.282 in the preceding year.

Net asset value per unit for the group stood at S$2.145 as at March 31, down marginally from S$2.147 three months ago.