Mapletree Commercial Trust H2 DPU down 3% to S$0.0514

MAPLETREE Commercial Trust (MCT) on Wednesday (Apr 20) reported a 3.4 per cent decline in distribution per unit (DPU) to S$0.0514 for the half-year ended Mar 31, down from S$0.0532 a year earlier.

Gross revenue was down 1.8 per cent to S$255.8 million for the half-year period, from S$260.3 million the year prior.

The Reit's manager noted that higher Covid-19 one-offs were recorded in H2 FY2021 and the full-year ended Mar 31. These one-offs were for the property tax rebate and government grant under the Job Support Scheme, with the 15 per cent property tax rebate having been disbursed in advance in FY2020.