Cambridge Industrial Trust Management(CITM), the manager of Cambridge Industrial Trust (CIT), has announced a distribution of 1.490 cents per unit for the quarter July 1 2008 to Sept 30 2008.

Net property income exceeded forecast by 8.0 per cent while distributable income exceeded forecast by 8.2 per cent, it said. Its annualised DPU of 5.928 cents represents a 7.0 per cent increase over the forecast DPU for the same period.

Said Ang Poh Seong, CEO of the manager: ‘We are pleased to report another set of steady results for 3Q2008 despite the negative economic climate. These results underscore the defensive nature of the industrial sector in general and CIT in particular.’

At Sept 30 2008, CIT’s occupancy rate remains at 100 per cent and it is on track to complete its refinancing, it said.