Starhill Global REIT’s Q3 DPU up 5.3%

Starhill Global REIT on Tuesday said that its distribution per unit (DPU) for the third quarter improved by 5.3 per cent.

It announced a DPU of 1 cent, up from the 0.95 cent declared in the year-ago period.

Distributable income rose by 5.8 per cent on-year to S$19.4 million, while net property income was up by 37 per cent on-year to S$35.8 million.

Starhill said the improvement in net property income is mainly attributed to contribution from the recently-acquired Starhill Gallery and Lot 10 in Malaysia.

The acquisition of the David Jones Building in Australia also boosted its net property income.

Source : Channel NewsAsia – 26 Oct 2010

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