Friday, January 20, 2012

Suntec Reit Q4 DPU rises 7%, beating forecast

Business Times: Fri, Jan 20
SUNTEC Real Estate Investment Trust (Suntec Reit) reported a distribution per unit (DPU) of 2.479 cents for the fourth quarter ended Dec 31, 2011, up 7 per cent year on year, and 19.9 per cent higher than its forecast.

This brings its DPU for 2011 to 9.932 cents, a 0.7 per cent increase from 2010 and beating forecast by 14.2 per cent.

Income available for distribution for the quarter exceeded its forecast by 20.7 per cent and stood at $55.3 million - a 23.1 per cent increase from the corresponding period a year ago.

For the year, Suntec Reit posted a record-high income available for distribution of $220.7 million, 20.9 per cent higher than 2010's $182.5 million...

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