PLife REIT's DPU climbed 4.5%

Unfazed by the volatility of Japan Yen.

In a release, Parkway Trust Management Limited announced its results for the second quarter and first six months ended 30 June 2013.

PLife REIT reported a distributable income for 2Q 2013 of S$15.9 million which is 6.1% higher than the S$15.0 million for the same period last year. This represents a distributable income per unit of 2.63 cents for 2Q 2013, an increase of 6.1% over 2Q 2012. With that, DPU for 1H 2013 grew 4.5% year-on-year from 5.04 cents to 5.27 cents.

Excluding the one-off IRAS tax adjustment of S$0.6 million in 1Q 2012, the year-on-year DPU growth for 1H 2013 DPU is 6.5%.

Mr Yong Yean Chau, Chief Executive Officer of the Manager said, “We are pleased to report a fruitful first half of 2013 as we continued delivering growing returns to Unitholders.

Our natural hedging strategy for income and borrowings enabled us to mitigate the impact from the recent volatility in the Japanese Yen, thereby enhancing the stability of net asset value and distributions.

With the majority of our portfolio having downside revenue protection, and built-in rental escalation for our Singapore properties boosting revenue, PLife REIT remains in a strong position to capture the opportunities offered by Asia Pacific’s burgeoning healthcare industry for continued growth.”

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