31 July 2014

AIMS AMP Capital Industrial REIT 1Q FY 2015 Result

AIMS AMP Capital Industrial REIT has announced a 2% year-on-year rise in Distribution Per Unit (DPU) to 2.55 cents per unit. Net property income rose 23.9% year-on-year to $19.5 million and distribution to shareholders rose 26.9% year-on-year to $15.8 million.

AIMS AMP Capital Industrial REIT has achieved a solid result this quarter with a full quarter’s income contribution from Optus Centre investment in Australia, secured new leases and renewals for 9% of it's portfolio and achieved significant weighted average rental increase of 11.9% from the renewals. They improved the Trust’s debt maturity profile with a $50 million issuance under the Medium Term Notes programme. The proceeds were used to repay the $50 million development loan for 20 Gul Way ahead of its October 2015 due date, enabling them to extend a portion of their debt for a further 5 years.

The Net Asset Value (NAV) increased to $1.48 per unit from $1.47 per unit due to the recognition of the development profits at 103 Defu Lane 10 and Phase Two extension of 20 Gul Way following obtaining the Temporary Occupation Permit (TOP) on 28 May 2014 and 14 June 2014 respectively.

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