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Soilbuild Reit reports higher than forecast 4Q distribution per unit

Published on Jan 23, 2014 9:02 AM

Soilbuild Business Space Reit said on Thursday it would post a distribution per unit of 1.51 cents for the quarter ended Dec 31 last year, 3.4 per cent higher than it had forecast during its initial public offering in August.

From its listing date of Aug 16 last year to Dec 31 last year, Soilbuild Reit's actual distribution per unit was 2.27 cents, exceeding forecasts by 3.2 per cent.

Distributable income for the fourth quarter of last year was also 3.5 per cent higher than predicted, at $12.2 million.

Revenue and net property income for the Reit beat forecasts by 0.9 per cent and 2.1 per cent respectively, at $16.3 million and $13.7 million for the quarter.

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