MAPLETREE North Asia Commercial Trust on Monday posted a 2.7 per cent rise in distribution per unit to 1.956 Singapore cents for the fourth quarter ended March 31.
Contribution from the trust's new Japan properties and higher rental income from Festival Walk in Hong Kong and Gateway Plaza and Sandhill Plaza in China drove growth in revenue and net property income for the quarter, as well as for the full year. Gross revenue picked up 16.2 per cent to S$104.04 million, and NPI improved 15.3 per cent to S$84 million. Q4 distributable income also grew 15.3 per cent to S$62.07 million.
For the full year, DPU was up 2.8 per cent to 7.69 Singapore cents from 7.481 cents a year ago, taking into account an enlarged number of units in issue.FY18/19 gross revenue increased 15.1 per cent to S$408.69 million, and NPI grew 14.6 per cent to S$329.03 million. Distributable income was up 14.1 per cent to S$240.67 million.
"We are mindful of potential uncertainties in the year ahead, with the ongoing trade tensions and a slowing global economy. Nevertheless, we remain committed to do our best to weather these conditions and deliver sustainable value for unitholders."MNACT units closed down two Singapore cents to S$1.34 on Monday before the results were announced.
Source: News Formal (newsformal.com)
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