Starhill Global Reit's Q1 DPU rose 3.1 %

Starhill Global Reit's growth in revenue and and net property income was mainly driven by the contribution from the recently-acquired mall in Adelaide and its Singapore portfolio.
Starhill Global Reit's growth in revenue and and net property income was mainly driven by the contribution from the recently-acquired mall in Adelaide and its Singapore portfolio.PHOTO: STARHILL GLOBAL REIT

SINGAPORE - Starhill Global Reit reported a 3.1 per cent increase in distribution per unit (DPU) to 1.31 cents for the first quarter on Tuesday (Oct 27).

Group revenue grew 16.8 per cent for the three months to Sept 30 to S$56.8 million. Net property income rose 10.2 per cent to S$43.6 million.

The growth in revenue and and net property income was mainly driven by the contribution from the recently-acquired mall in Adelaide and its Singapore portfolio, partially offset by lower contributions from China and net foreign currency movements, said the Reit manager in a filing with Singapore Exchange.

Unitholders can expect to receive their first quarter DPU on Nov 27. The book closure date is 5pm on Nov 4.

The units closed 1.5 cents or 1.8 per cent lower at 80 cents on Tuesday.

kohping@sph.com.sg