AA Reit's Q4 DPU down 5.8%

20 Gul Way, a facility owned by Aims AMP Capital Industrial Reit Management.
20 Gul Way, a facility owned by Aims AMP Capital Industrial Reit Management. PHOTO: AA REIT

SINGAPORE - Aims AMP Capital Industrial Reit (AA Reit) announced on Thursday (April 27) a distribution per unit of 2.78 cents for its fourth quarter, 5.8 per cent down from the same period a year earlier.

Gross revenue for the three months to March 31 inched up 1.1 per cent to S$30.6 million, mainly owing to the maiden contribution from a newly completed property at 30 Tuas West Road from Feb 27, and higher rental contributions from a property at 29 Woodlands Industrial Park E1.

However, this was partly offset by lower rental and recoveries from 20 Gul Way.

Net property income dipped 2 per cent to S$20 million, and distribution to unitholders fell 5.3 per cent to S$17.8 million.

The share of results of joint ventures - net of tax - dropped 61.6 per cent to S$4.1 million compared with the same period a year ago.