AIMS APAC REIT’s manager announced that DPU in FY2022 for the 12 months to Mar 31, 2022 rose by 5.7% growth 9.46 cents, from 8.95 cents in FY2021. Distributable income for the year rose by 6.3% to $67.2 million.
AA REIT registered higher gross revenue and net property income of $142.4 million and $103.2 million, rising 16.1% and 17.9% respectively, compared to FY2021. The improvement in performance was mainly due to contributions from the recently acquired Woolworths HQ in November 2021, a full year contribution from 7 Bulim Street acquired in October 2020, as well as higher rental and recoveries at 20 Gul Way, 8 & 10 Pandan Crescent, 29 Woodlands Industrial Park, and 541 Yishun Industrial Park A.
The lower share of profits of the Optus Centre joint venture in the second half ended Mar 31, 2022 (2HFY2022) was mainly due to the lower revaluation gain of Optus Centre compared to 2HFY 2021. However, the share of profits for the full year registered an overall increase for FY2022 due to the higher revaluation gain of Optus Centre as at 31 March 2022 as compared to a year ago.