Mapletree Industrial Trust reports DPU of 1.52 cents

Mapletree Industrial Trust has reported a distribution per unit (DPU) of 1.52 cents in its first financial results for the period from its listing date of October 21 to 31 December 2010.

The DPU was 13.4 per cent higher than its own forecast.

Mapletree said the distributable income was at S$22.28 million, 13.6 per cent higher than the forecast made by the company in its prospectus. The trust said the higher-than-expected distributable income was due to increased gross revenue and lower property expenses.

Gross revenue came at S$41.51 million, due to higher rental revenue rates and new leases secured.

Mapletree’s occupancy rate stood at 92.3 per cent, and the average monthly rental rate was S$1.45 per square feet per month.

Going forward, the trust plans to focus on growing organically through proactive lease and asset management.

Source : Channel NewsAsia – 25 Jan 2011

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