Friday, January 27, 2012

First Reit Q4 DPU doubles on divestment

Business Times: Fri, Jan 27
FIRST Real Estate Investment Trust (First Reit) saw its distribution per unit (DPU) for the fourth quarter ended Dec 31, rise to 1.93 Singapore cents, up 121.8 per cent in the previous corresponding quarter.


This was helped by other gains relating to the distribution of a portion of the total gain on divestment of its Adam Road property of about $8.7 million, which was sold in Q1 last year to Fortis Global Healthcare.


The DPU is payable Feb 29.


The amount distributable rose 122.9 per cent to $12.12 million for the fourth quarter. Meanwhile, gross revenue rose 82 per cent to $13.93 million while net property income also rose 82.2 per cent to $13.77 million...

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