First Reit’s Q2 DPU up 0.5% on-year

Healthcare real estate investment trust, First Reit, on Thursday reported a 0.5 per cent increase in its distribution per unit (DPU) for the second quarter.

For the quarter ended in June, its DPU was 1.92 cents, higher than the 1.91 cents announced over the same period last year.

Distributable income for the period rose 1.5 per cent to S$5.3 million.

Going forward, First Reit said healthcare demand continues to be stable despite the recession in Singapore.

It also expects demand for private nursing care to grow as the Singapore government moves to allow Medisave to be used for palliative care.

First Reit added that the three hospitals it owns in Indonesia have been seeing strong growth of over 20 per cent, reflecting the continued demand for quality healthcare.

Source : Channel NewsAsia – 23 Jul 2009

Join The Discussion

Compare listings