SINGAPORE (Apr 2): Despite a fairly strong set of 2QFY2020 results, SPH REIT held back on distributions to unitholders in anticipation of near-term challenges brought about by the Covid-19 outbreak. 

The REIT posted distribution per unit (DPU) of 0.3 cent for the quarter ended February, a 78.7% decline from DPU of 1.41 cents a year ago. This brought its half-year DPU to 1.68 cents, or some 39% lower than 1HFY2019. 

But not all was doom and gloom, as SPH REIT booked increases across several other financial metrics. For instance, gross revenue for the quarter increased 26.1% y-o-y to $73.3 million, while net property income came in 23.3% higher at $56.5 million. 

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