AA REIT posts 5.1% YoY growth for DPU in FY 2023

The distribution per unit (DPU) grew to 9.944 cents.

Singapore firm, AIMS APAC (AA) REIT, revealed that its DPU increased 5.1% year-on-year to 9.944 cents in the fiscal year 2023 which ended 31 March 2023.

In a financial statement, the firm also reported that its distributions to unitholders grew 6.5% YoY to $71.6m.

The gross revenue and net property income increased by 17.6% and 18.7% to $167.4m and $122.5m, respectively. 

It was backed by higher rental and recoveries from AA REIT’s logistics and warehouse, hi-tech and industrial properties, and full-year revenue contribution from the acquisition of Woolworths HQ in Australia which was completed in November 2021.