Suntec Reit posts 24.8% rise in H1 DPU to S$0.03936
[SINGAPORE] The manager of Suntec Real Estate Investment Trust (Reit) on Thursday (Jul 23) posted a distribution per unit (DPU) of S$0.03936 for the first half ended June, up 24.8 per cent from S$0.03155 in the previous corresponding period.
Distributable income rose 25.5 per cent to S$116.5 million for H1 FY2026, from S$92.8 million in the same period the year before.
The manager attributed the improved DPU to the stronger operational performance of its Singapore office and retail portfolio.
Lower financing costs also contributed to the better performance, alongside lower withholding tax provision in Australia, with the Reit retaining its managed investment trust status in the country.
The operating gains more than offset the absence of a one-off compensation recorded in H1 FY2025 due to the surrender of three floors at 177 Pacific Highway in Sydney. The three floors in the Sydney property have since been backfilled.
The gains also offset the weaker performance of The Minster Building in London due to the lease expiry of a tenant in mid-June 2025.
Revenue was up 1.9 per cent at S$238.9 million for the half-year period, from S$234.5 million in the same period the year before.
However, net property income fell 0.3 per cent to S$159 million in H1 FY2026, from S$159.5 million in the year-ago period.
Units of Suntec Reit closed Thursday 1.9 per cent or S$0.03 lower at S$1.51, before the results were announced.
