On 26 April 2018, Starhill Global REIT has released a set of disappointing 3QFY17/FY18 results. Gross Revenue, Net Property Income (“NPI”), Distributable Income and Distribution Per Unit (“DPU”) has all declined.
Despite the fact that distributable income has declined by 6.3%, the manager retained $1.6 million for working capital purposes, worsening the income to be distributed to unit holders. Distribution Per Unit (“DPU”) fell by 7.6%. This was unexpected of a Retail/Office REIT.
|
3QFY17/18 |
3QFY16/17 |
Change |
| Gross Revenue |
$51.7 mil |
$53.3 mil |
(3.0%) |
| Net Property Income |
$40.3 mil |
$41.2 mil |
(2.3%) |
| Distributable Income |
$25.4 |
$27.1 mil |
(6.3%) |
| Income to be Distributed to Unitholders |
$23.8 mil |
$25.7 mil |
(7.6%) |
| Distribution Per Unit (“DPU”) (cents) |
1.09 |
1.18 |
(7.6%) |
Distribution Per Unit
Comparing the Distribution Per Unit side by side between FY2016/17 and FY2017/18, we ......
