Contributions from The Rail Mall in Singapore and Figtree Grove Shopping Centre in Australia, both acquired last year, helped boost the numbers at SPH Reit in the second quarter.

Distribution per unit (DPU) for the three months ended Feb 28 edged up 0.7 per cent to 1.41 cents from a year earlier.

Gross revenue rose 8.5 per cent year on year to $58.12 million, while net property income (NPI) was also up 8.5 per cent to $45.86 million.

Income available for distribution clocked in at $37.02 million, a 2.5 per cent gain from a year earlier.

The Reit's properties maintained an occupancy rate of 99.2 per cent, while the overall portfolio registered a positive rental reversion of 8.4 per cent for the first half.

Paragon mall recorded positive rental reversion of 8.6 per cent for new and renewed leases - 15.2 per cent of the mall's net lettable area - in the six months.

The Clementi Mall has positive rental reversion of 5 per cent, while The Rail Mall was up 6.2 per cent.

DPU totalled 2.75 cents for the first half versus 2.74 cents previously, while gross revenue rose 4.5 per cent to $111.93 million due to the two acquisitions last year, although the increase was partially offset by lower rental income from Paragon.

NPI was 3.8 per cent higher at $87.64 million and income available for distribution was up 0.3 per cent to $72.87 million.

Property operating expenses rose 7.4 per cent to $24.29 million in the first half, in line with the acquisitions.

Finance costs increased by 16.3 per cent to $13.95 million, on the back of additional interest expense from new loans to finance the acquisition of Figtree Grove.

SPH Reit Management chief executive Susan Leng said: "SPH Reit continues to maintain high occupancy and delivers stable distribution."

The DPU will be paid on May 17.

SPH Reit units closed unchanged at $1.06 yesterday.