As OUE C-REIT pays out its distribution on a semi-annual basis, 1H17 DPU 2.38 cents, 11.2% lower than the 1H16 DPU of 2.68 cents.
SINGAPORE (Aug 2): OUE Commercial REIT (OUE C-REIT) posted a 15.4% drop in 2Q17 ended June DPU of 1.15 cents from 2Q16 DPU of 1.36 cents, due to the enlarged number of units after the March private placement.
OUE Commercial REIT Management says OUE C-REIT’s property portfolio achieved stronger operational performance in 2Q17. Revenue however was 3.2% lower y-o-y at $44.2 million due to lower one-off income recognised during the quarter while net profit income came in 1.3% lower at $34.8 million. With lower operating expenses and lower borrowings costs, 2Q17 amount available for distribution was $17.8 million, 0.6% higher y-o-y.
