📋 Tender Overview
RETAIL landlord SPH Reit on Thursday reported a 2.1 per cent rise in distribution per unit DPU to 1.46 Singapore cents for the fourth quarter ended Aug 31 up from 1.43 cents a year ago.Gross revenue rose 10.2 per cent year-on-year to S58.37 million on the back of contributions from The Rail Mall in Singapore and Figtree Grove Shopping Centre in Australia which were acquired in June and December last year respectively. Meanwhile net property income NPI was up 11.8 per cent to S45.81 million. Income available for distribution clocked S35.37 million or 2.3 per cent higher from the corresponding quarter a year ago.Susan Leng chief executive of SPH Reit Management said We are pleased to close the year with a set of positive results. The full-year DPU of 5.60 cents was 1.1 per cent higher than last year. Paragons tenant sales were 2.2 per cent higher year-on-year at S708 million. Similarly The Clementi Malls tenant sales registered a 3 per cent increase to S237 million. The occupancy rate across the portfolio was close to 100 per cent.For the full year ended Aug 31 gross revenue increased 7.9 per cent to S228.64 million thanks to contributions from the two malls acquired last year. NPI worked out to be 8.3 per cent higher at S179.78 million and income available for distribution edged up 1.9 per cent to S145.03 million.
