SINGAPORE (Oct 6): SPH REIT saw a 0.5% lift in FY16 distribution per unit to 5.50 cents from a year ago, driven by higher rental income from Paragon and The Clementi Mall.
For the full year to August, gross revenue rose 2.2% to $209.6 million. Net property income rose 3.4% to $160.9 million on the back of a 1.6% decrease in property operating expenses of $48.7 million. Distributable income rose 1.8% to $141.1 million.
DPU for 4Q16 was 1.41 cents, an increase of 1.4% against 4Q15 and will be paid out on Nov 14.