Suntec REIT's DPU Up 13% in Q3

MT Newswires10-24

Suntec REIT's (SGX:T82U) distribution per unit or DPU was up nearly 13% in the third quarter to SG$0.01778 from SG$0.01580 a year earlier, according to a Thursday filing with the Singapore Exchange.

Shares of the REIT were up nearly 2% in Friday trading.

Distributable income rose 13% to SG$52.4 million from SG$46.2 million a year earlier.

Net property income fell 1.6% to SG$78.5 million from SG$79.8 million.

Gross revenue declined 0.2% year over year to SG$117.5 million from SG$117.7 million due to loss of revenue from the surrender of three floors at 177 Pacific Highway in Sydney, Australia and lower contribution from The Minster Building in London, England.

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