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Starhill Global REIT posts 7.1% fall in 2Q DPU to 1.17 cents on lower revenue

Samantha Chiew
Samantha Chiew1/29/2018 06:23 PM GMT+08  • 2 min read
Starhill Global REIT posts 7.1% fall in 2Q DPU  to 1.17 cents on lower revenue
SINGAPORE (Jan 29): The manager of Starhill Global REIT (SGREIT) has reported a 2Q18 distribution per unit (DPU) of 1.17 cents, 7.1% lower than the 1.26 cents in the 2Q18, bringing 1H17 DPU to 2.37 cents.
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SINGAPORE (Jan 29): The manager of Starhill Global REIT (SGREIT) has reported a 2Q18 distribution per unit (DPU) of 1.17 cents, 7.1% lower than the 1.26 cents in the 2Q18, bringing 1H17 DPU to 2.37 cents.

Revenue for 2Q18 was $52.5 million, 3.0% lesser than $54.1 million recorded in the previous year, mainly due to weaker contributions from offices, disruption of income from ongoing asset redevelopment works at Plaza Arcade in Perth and lower revenue at Myer Centre Adelaide.

SGREIT’s Singapore portfolio, comprising interests in Wisma Atria and Ngee Ann City on Orchard Road, reported NPI for 2Q18 decreased by 2.6% y-o-y to $25.7 million, mainly due to lower occupancies in Singapore offices and higher expenses.

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