New acquisitions helped retail landlord SPH Reit rack up better numbers for the fourth quarter, it reported yesterday.

Distribution per unit (DPU) rose 2.1 per cent to 1.46 cents for the three months to Aug 31, from 1.43 cents a year earlier.

Gross revenue rose 10.2 per cent to $58.37 million on the back of contributions from The Rail Mall, acquired here in June last year, and Figtree Grove Shopping Centre in Australia, which it bought in December.

Net property income (NPI) was up 11.8 per cent to $45.81 million, while income available for distribution came in at $35.37 million, 2.3 per cent up on the same quarter last year.

SPH Reit Management chief executive Susan Leng said yesterday: "The full-year DPU of 5.6 cents was 1.1 per cent higher than last year's.

"Paragon's tenant sales were 2.2 per cent higher year on year at $708 million.

"Similarly, The Clementi Mall's tenant sales registered a 3 per cent increase to $237 million. The occupancy rate across the portfolio was close to 100 per cent."

Gross revenue for the full year rose 7.9 per cent to $228.64 million, thanks to contributions from the two new malls.

NPI rose 8.3 per cent to $179.78 million while income available for distribution added 1.9 per cent to $145.03 million.

SPH Reit units closed unchanged at $1.11 yesterday.