First REIT's net property income inches up 3.2% to $27.2m
Thanks to the contribution from Siloam Hospitals Labuan Bajo.
Singapore-listed First REIT (FREIT) reported a stable set of operational performance figures for the quarter ending in June, with gross revenue growing 3.3% to $27.5m.
According to OCBC Investment Research, this came with the 3.2% increase in net property income to $27.2m.
The brokerage firm said the growth was boosted by a full quarter contribution from Siloam Hospitals Labuan Bajo, as well as higher rental income from the existing portfolio.
Consequently, distribution per unit (DPU) grew 1.4% YoY to 2.14 Singapore cents.