Viva Industrial Trust Q2 DPS up 7.3%

SINGAPORE - Business park and industrial property landlord Viva Industrial Trust's distribution per stapled security (DPS) for the second quarter of this year jumped 7.3 per cent on a year-on-year basis to 1.849 cents, said the trust on Friday.

Net distributable income rose 14.3 per cent to $11.76 million while net property income increased by 19.3 per cent compared to that in Q2 2014. Gross revenue was also 17.1 per cent higher at $17.82 million over the same period.

"Our move to expand our portfolio through the acquisition of Jackson Square and Jackson Design Hub has paid off, and we are confident that we will be able to further unlock value for our stapled securityholders through our multi-pronged portfolio management approach of value-accretive acquisitions and asset enhancements," said the trust manager's chief executive Wilson Ang.

The trust also brought its gearing down to 38.9 per cent.

Viva Industrial Trust's stapled securities rose 1 cent, or 0.63 per cent to 80 cents at 11.20am on Friday.