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Viva Industrial Trust Q4 distributable income misses forecast by 1.6%
VIVA Industrial Trust said fourth-quarter distributable income missed its own forecast by 1.6 per cent despite higher than expected gross rental collections.
Viva, a Singapore business park and industrial stapled real estate investment trust (Reit) and business trust, posted distributable income of S$10.3 million for the three months to December 2014.
Net property income of S$11 million was 8.6 per cent higher than estimated as gross revenue beat expectations by 8.7 per cent to reach S$16.6 million.
Viva will pay out 1.701 Singapore cents per stapled security. Viva units closed at 80.5 Singapore cents on Monday, higher by 0.6 per cent or half a cent.
For the whole of 2014, distributable income was 0.8 per cent below its estimate, at S$41.0 million.
Viva noted weaker business optimism in the latest quarter.
"Such cautious business sentiments in Singapore may affect demand for industrial space and pose challenges in 2015," Viva stated.