A-REIT to distribute 3.62 Singapore cents per unit for Q1

Ascendas Real Estate Investment Trust (A-REIT) has said its first-quarter distribution per unit rose nearly 18 per cent due to additional rental income from completed acquisitions.

Unit holders will receive 3.62 Singapore cents per unit for the three months ended June, compared with 3.07 cents a year earlier.

All in, A-REIT had an income of S$61 million to distribute to unit holders in the first quarter.

It reported a 16 per cent on-year rise in net property income to S$80.7 million, while gross revenue increased 10.7 per cent from a year earlier to S$102.4 million.

A-REIT said the outlook for the rest of the year will depend largely whether there is a sustainable recovery, especially in terms of global end consumer demand.

Source : Channel NewsAsia – 17 Jul 2009

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