Parkway Life REIT's DPU Jumps 15% in Q1

MT Newswires05-04

Parkway Life REIT's (SGX:C2PU) distribution per unit or DPU surged 15% in the first quarter of the year to SG$0.0442 from SG$0.0384 a year earlier, according to a Thursday filing with the Singapore Exchange.

Shares of the REIT were up nearly 1% in Monday trading.

Amount available for distribution was up 15% to SG$28.8 million from SG$25.0 million.

Net property income fell 2.7% to SG$35.8 million from SG$36.8 million in the year-ago period.

Gross revenue declined 2.1% year over year to SG$38.2 million from SG$39 million, mainly due to lower rental income from the Japan portfolio.

Committed occupancy for the Singapore and France portfolio stood at 100% while that of Japan came in at 93%.

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