earnings

Bowsprit Capital Corporation, the manager of First Real Estate Investment Trust (First REIT), has reported a distribution per unit (DPU) of 1.86 cents for the 1Q2020 ended March, down 13.5% y-o-y, as the REIT’s unit base has grown bigger.

Netlink NBN Trust has declared a distribution per unit (DPU) of 2.53 cents for the six months ended March 30, which brings full year distribution to 5.05 cents, up 3.5% from the previous year.

Sunningdale Tech, the precision plastic manufacturer, reported 1Q2020 earnings of $2.4 million, up 205.3%.

Great Eastern Holdings, a member of the OCBC Group, saw its earnings plunge 90% to $33.9 million y-o-y for 1Q2020 ended March.

UOB Group reported net earnings of $855 million, down 19% y-o-y for 1Q2020 ended March, on declining interest rates and higher credit costs.

The manager of OUE Commercial REIT (OUE C-REIT) has declared a distributable income of $37.6 million for 1Q2020 ended March, a 44.5% increase y-o-y from last year’s $26.0 million.

Year-to-date ended March 31, LREIT reported a DPU of 2.57 cents, 1.9% higher than its forecast, and a distributable income of $30.0 million, 1.3% higher than expected.

DBS Group Research and CGS-CIMB are keeping their “buy” calls on Mapletree North Asia Commercial Trust (MNACT) despite its 19.9% y-o-y drop in distribution per unit (DPU) to 1.566 cents for its most recent 4QFY19/20 ended March 31 2020.

In its business update, the group says its trading results in China, its largest market, are beginning to pick up with “improved residential sales and shopper traffic”, after the country’s nationwide lockdown was loosened in March, and lifted in April.

DBS Group Holdings reported record earnings of $2.47 billion, up 20% y-o-y, as total income grew 13% to a new high of $4.03 billion for 1Q2020 ended March.