YTL Starhill Global announces 12.6% rise in 1Q DPU to 1.07 cents

YTL Starhill Global today announced that Starhill Global REIT’s 1Q 2011 revenue was $45.8 million, 21.9% higher than that achieved in 1Q 2010.

Net property income was higher at $37.1 million, representing an increase of 27.2% over 1Q 2010, primarily due to the contribution from Starhill Gallery and Lot 10 in Malaysia, which were acquired in June 2010.

Income to be distributed to unitholders in 1Q 2011 was $20.8 million, 13.1% higher than that of $18.4 million in 1Q 2010. Distribution Per Unit (DPU) for the period 1 January 2011 to 31 March 2011 was 1.07 cents, 12.6% higher compared to the 0.95 cents achieved for the previous corresponding period. On an annualised basis, the latest distribution represents a yield of 7.00%.