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AIMS AMP Capital Industrial Reit Q4 DPU jumps 16.3% to 2.92 cents
04.29.2015 The Straits Times Source Link

SINGAPORE - AIMS AMP Capital Industrial Reit ended its financial year with a 16.3 per cent year-on-year increase in distribution per unit (DPU) to 2.92 cents for its fourth quarter ended March 31, 2015.

Distribution to unitholders was up 17.8 per cent to $18.37 million.

Gross revenue was 2.1 per cent higher at $30.09 million due to a full quarter of contribution from Phase Three of 20 Gul Way and higher rental rates and recoveries for new and renewal leases at 29 Woodlands Industrial Park. Meanwhile, net property income climbed 5.5 per cent to $20.31 million.

"The fourth quarter result was boosted by a full quarter's rental contribution from Phase Three of 20 Gul Way, and renewal of leases representing 15,646.7 sqm at a weighted average rental increase of 6.8 per cent on renewals," said chief executive of the Reit's manager, Koh Wee Lih. "Additionally, we maintained high occupancy of 95.8 per cent, and we continue to be above the industry average of 90.7 per cent."