Suntec REIT’s Q4 distribution income up 44.5% on-year

Suntec REIT’s distribution per unit (DPU) for the fourth quarter rose 34.6 per cent year-on-year to 2.854 cents between July and September.

Its distribution income of S$43.9 million for the same period was 44.5 per cent higher on-year.

The gains were led by higher rentals from its Suntec City and Park Mall properties.

Net property income was S$45.6 million, up 24.7 per cent from S$36.6 million, while gross revenue increased 20.3 per cent to S$61.4 million from S$51.1 million.

Full-year DPU figures were unavailable as the trust recently changed its year-end from September 30 to December 31.

Source : Channel NewsAsia – 30 Oct 2008

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