Published:
Keppel REIT's net property income down 11.4% to $34.7m in Q2
Due to the divestment of Prudential Tower.
Keppel REIT reported that its net property income slipped 11.4% year-on-year to $34.7m in the second quarter, mainly due to the divestment of Prudential Tower in September last year.
The REIT's total return before tax also declined to $39m from $40m in the same quarter last y4ear, due mainly to lower rental support, lower interest income, higher borrowing costs, higher management fees and trust expenses.
Keppel REIT reported a distribution per unit of 1.72 cents, lower than 1.70 cents in the first quarter. On a half-yearly basis, its DPU fell to 3.42 cents from 3.87 cents in the comparable period last year.
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