Keppel Reit's Q3 distribution per unit up 0.5% to 1.97 cents

KEPPEL real estate investment trust (Keppel Reit) has posted a distribution per unit (DPU) of 1.97 cents for the third quarter ended on Sept 30.

The DPU was 0.5 per cent higher than the 1.96 cents posted over the same period a year ago.

The marginally better DPU performance came as distributable income for the third quarter went up by 4.6 per cent to $54.1 million on the back of higher net property income.

Net property income was $34.3 million, an increase of 6.8 per cent, with the improvement due mainly to higher contributions from Ocean Financial Centre and additional new income from 8 Exhibition Street in Melbourne.

Keppel Reit, which reported its earnings after markets closed today, lost half a cent to end at $1.245.