A-Reit posts 9.3 per cent rise in distributable income for Q2

Industrial landlord Ascendas Real Estate Investment Trust (A-Reit) posted a 9.3 per cent increase in distributable income for its second quarter to $86.4 million from the preceding year.

Distribution per unit for the three months to Sept 30 was 3.6 cents, up 2 per cent from 3.53 cents for the corresponding period last year.

Revenue climbed 5.8 per cent year-on-year to $151.7 million and net property income rose 4.1 per cent to $107.1 million for the quarter.

A-Reit said the increase in revenue was mainly due to the recognition of rental income earned from The Galen as well as finance lease interest income from a tenant.