Ascendas REIT net property income up 4.1% to 107.1m

Amount available for distribution spiked 9.3%.

Ascendas REIT (A-REIT) announced its results for the 2Q FY13/14 period which showed growth in revenue, net property income and amount available for distribution.

Gross revenue climbed 5.8% to 151.7m in from the second quarter last year, while net property income improved to 107.1m.

Meanwhile, amount available for distribution increased by 9.3% y-o-y to S$86.4m.

Distribution per Unit also grew by 2.0% y-o-y, from 3.53 cents per Unit in 2Q FY12/13 to 3.60 cents per Unit in 2Q FY13/14.

A-REIT also reports that it achieved positive rental reversion, averaging 10.8%, across all segments of the
portfolio.

Achieved positive rental reversion, averaging 10.8%, across all segments of the portfolio.