Parkway Life REIT DPU up 10.3% in Q2

Thanks to higher revenue and income from its properties.

Healthcare REIT Parkway Trust Management Limited (Parkway Life)'s distribution per unit (DPU) rose by 10.3% to 3.32 cents for Q2 this year.

According to the company's financial statement, the net property income increased 1.4% to $25.9m. Higher rent contribution from acquired properties and positive rental reversions contributed to the higher NPI.

The period also brought in a 1.1% revenue growth for the company.

Refinancing initiatives and yen depreciation, however, has pushed the group's finance cost savings down to $1.9m.

"Despite the growth of portfolio, finance costs have decreased mainly due to the finance cost savings arising from the refinancing initiatives completed in 2016 and in 1Q 2017 and depreciation of the Japanese Yen," the Parkway Life said.

Parkway Life owns a total of 49 properties in the Asia Pacific, including three hospitals in Singapore and 45 healthcare-related assets in Japan.

The company's portfolio size is at $1.7b as of the current time period.