REIT Financial News - Q2 2010 Quarterly Earnings Report for LMIR

Second quarter 2010 results for LippoMapleTrust:

• Press Release
• Financial Statements

Key Points

• Total Gross Revenue of S$40.1 million for the three months ended 30 June 2010 (“2Q 2010”) is 91.7% above 2Q 2009, mainly as a result of additional contributions from service charges receipt and utilities cost recovery since January 2010.
• Net Property Income of S$21.6 million for 2Q 2010 is 17.1% above 2Q 2009, despite assuming the maintenance and operating costs since January 2010.
• Distributable income per unit (“DPU”) of 1.04 cents for 2Q 2010, which equates to an annualized yield of 9.4% at closing unit price of 47.5 cents on 30 June 2010.
• Prudent risk management policy with gearing at 10.3% of total deposited property. 
• Maintain above industry average occupancy rate at approximately 98.0% as at 30 June 2010.

Author's Note
The quarterly DPU for 2Q 2010 of 1.04 cents will be paid on 27 Aug 2010, with the book closure date on 6 Aug 2010.

The DPU was 1.20 cents for the previous quarter.