SPH Reit posts 0.7% rise in DPU for Q4

SPH Reit, a real estate investment trust sponsored by media group Singapore Press Holdings (SPH), reported a 0.7 per cent improvement in distribution per unit (DPU) for the fourth quarter to 1.42 Singapore cents from 1.41 Singapore cents a year ago.

Gross revenue for the Q4 ended Aug 31, 2017, came in 1.3 per cent higher at S$52.9 million, owing to higher rental income achieved from Paragon and The Clementi Mall.

Net property income (NPI) rose 3.9 per cent to S$41.8 million while income available for distribution fell 7.3 per cent to S$31.8 million.

For the full year, DPU stood at 5.53 Singapore cents, up 0.5 per cent from a year ago. Annualised distribution yield based on the unit's closing price of S$1.00 on Aug 31, 2017, stood at 5.53 per cent.

Gross revenue for the year grew 1.5 per cent to S$213 million while NPI was 4.5 per cent higher at S$168.1 million, which was attributed to "proactive management of expenses".

The Reit saw its units finish at S$1.005 on Monday.