PARKWAY Life Reit announced earnings results for the fourth quarter and year ended December 2013. For the quarter, the company's distribution per unit rose 4.5% to 2.82 cents, as distributable income went up 4.5% to $17 million. This was driven by recent acquisitions and rental growth from existing properties. Net property income rose 3.4% to $23.2 million from $22.4 million. Gross revenue rose 3.1% to $24.7 million, mainly due to rental income contribution from properties acquired in July 2013 and September 2013.

For the year, the company's DPU rose 4.2% year-on-year to 10.75 cents. Income available for distribution rose 4.2% to $65.1 million from $62.4 million. Gross revenue was flat at $93.7 million compared with $94.1 million in the previous year, due mainly to the depreciation of the yen.