SINGAPUR (dpa-AFX) - Suntec Real Estate Investment Trust (P3G.F, T82U.SI) reported higher distributable income in the third quarter, with increased gross revenues.
In the quarter, distributable income was S$59.9 million, 14.3 percent higher than last year's S$50.4 million.
Distribution per unit or DPU to unitholders was 2.017 cents, 13.4 percent higher that 1.710 cents a year ago.
On an operating basis, distributable income and DPU would have increased by 18.8 percent and 18.0 percent, respectively.
The higher year-on-year performance was led by stronger operational performance of the Singapore Office and Retail portfolios and lower financing cost.
Gross Revenue grew 5.2 percent to S$123.6 million from prior year's S$117.5 million.
Looking ahead, the company said the Singapore Office portfolio occupancy is expected to remain high with positive rent reversion for the full year expected to be between 5 percent to 10 percent for fiscal 2026.
The performance is expected to improve, supported by healthy occupancies and past quarters of strong positive rent reversions.
In Singapore, the shares were trading at S$1.4000, up 2.94 percent.
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