Suntec Real Estate Investment Trust has posted a distribution per unit (DPU) of 2.528 cents in the second quarter of 2010, down 15 percent from last year’s 2.977 cents.
Gross revenue also declined 3.3 percent to S$62.4 million, a decline of S$2.1 million over the same quarter last year, which was attributed to the lower office and retail revenue gained in Q2.
Additionally, the company’s net property income in the second quarter dropped 2.8 per cent year-on-year or S$1.4 million to S$47.4 million, while income available for distribution was 3.7 percent lower on-year at S$1.8 million.
Suntec Reit expects the challenges in the retail and office sectors to continue despite the signs of positive recovery in the two sectors.