Viva Industrial Trust's Q2 DPS jumps 7.3%

BUSINESS park and industrial property landlord Viva Industrial Trust's distribution per stapled security (DPS) for the second quarter of this year climbed to 1.849 Singapore cents, 7.3 per cent higher than that in Q2 2014, the trust said on Friday.

The rise came on the back of a 14.3 per cent gain in distributable income to S$11.76 million over the same period. Net property income jumped 19.3 per cent to S$12.2 million and gross revenue expanded 17.1 per cent to S$17.82 million.

The solid set of results indicates that "our move to expand our portfolio through the acquisition of Jackson Square and Jackson Design Hub has paid off", said the trust manager's chief executive officer, Wilson Ang, in a statement.

The trust also noted that it had brought down its gearing to 38.9 per cent.

Its stapled securities closed unchanged at S$0.795 on Thursday.