Viva Q2 DPS up 6.3% on higher contributions from business park

VIVA Industrial Trust's distribution per stapled security (DPS) rose 6.3 per cent to 1.861 Singapore cents for the second quarter as net property income grew 17.5 per cent to S$20.2 million.

Gross revenue for the three months ended June 30 increased by 18 per cent to S$27.6 million, partly driven by higher contributions from Viva Business Park, where renovations were recently completed.

For the first six months of the year, net property income was up 22.9 per cent at S$40.6 million.

As at end-June, Viva's portfolio occupancy weighted by rental income stood at 90.6 per cent, up from 87.9 per cent a year ago.

Viva is a Singapore-focused business park and industrial property trust.