Suntec – BT

Suntec Real Estate Investment Trust reported a 22.3 per cent increase in second-quarter distribution income of S$56.18 million, compared to S$45.93 million a year ago.

The distribution per unit for the quarter ended Jun 30 amounted to 2.53 Singapore cents, translating to an annualised distribution yield of 6.6 per cent.

Gross revenue for the quarter was S$61.3 million, marginally lower that last year by 1.8 per cent.

The gross retail revenue was S$31.9 million, 2.7 per cent lower than a year ago. This was mainly due to lower rental income achieved for Suntec City Mall.

The gross office revenue was S$29.4 million, 0.7 per cent lower than the previous corresponding time period.

Suntec REIT expects to exceed the forecast distribution per unit for FY2011.