Cambridge Industrial Trust declares 1H DPU of 2.19 cents

SINGAPORE (July 22): Cambridge Industrial Trust Management Ltd, the manager of Cambridge Industrial Trust (CIT), announced distribution per unit (DPU) for the six months ended June (1H16) of 2.19 cents, a 10.6% decrease from the same period a year ago.

However, after adjusting 1H15 DPU to exclude one-off capital distribution and management fees paid in units, DPU was 1.9% higher year-on-year.

Half-year gross revenue came in at $56.7 million, an increase of 2.5% from a year ago. Net property income (NPI) decreased marginally to $42.7 million, due mainly to higher property operating expenses incurred for new and renewed leases, as well as the ongoing conversion of assets from single-tenancy to multi-tenancy.

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