Parkway Life REIT reports 2.9% increase in Q1 DPU

Parkway Life REIT reported a 2.9 per cent on-year increase in its first-quarter distribution per unit (DPU) to 2.64 Singapore cents.

Excluding a one-off tax adjustment, the REIT said DPU would have increased 7 per cent.

Gross revenue rose 1.1 per cent to S$23 million, while net property income climbed 1.8 per cent to S$21.5 million.

Parkway Life REIT said this was mainly due to full-quarter contributions from its Japan and Malaysia properties.

It remains cautiously optimistic about its near-to-medium-term acquisition prospects and believes that the region’s healthcare industry will remain robust due to demand for quality private healthcare services driven by fast-ageing populations.

Source – Today – 9 May 2013