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First REIT's DPU Slides 14% in Q1

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First REIT's (SGX:AW9U) distribution per unit or DPU declined 14% in the first quarter of the year to SG$0.005 from SG$0.0058 a year earlier, according to a Thursday filing with the Singapore Exchange.

Shares of the REIT were up over 2% in Friday trading.

Distributable amount fell 13% to SG$10.6 million from SG$12.2 million.

Net property and other income was down 8.3% to SG$22.5 million compared with SG24.6 million in the year-ago period.

Rental and other income declined 8.4% year over year to SG$23.2 million from SG$25.4 million.

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