Mapletree Logistics’ Q4 DPU down 1%

Mapletree Logistics Trust (MLT) has posted a distribution per unit (DPU) of 1.55 cents for the fourth quarter ended December 31 last year.

This was 1 per cent lower than the 1.54 cents distributed in the same quarter a year ago.

Distributable income grew 17 per cent for the fourth quarter of 2010 to S$36.8 million, while net property income increased 13 per cent to S$53.8 million.

MLT attributed the improved fourth quarter performance to the five properties acquired during the period – among them the properties at 44 and 46 Changi South Street 1 in December last year.

The better performance for the quarter was also attributed to the increase in the occupancy rate from 5 to 99 per cent for its Malaysian properties.

Meanwhile, full-year DPU for 2010 rose 3 per cent to 6.09 cents, from 5.91 cents one year ago.

Net property income for 2010 increased 7 per cent S$193 million, while the amount distributable for the year rose 10 per cent to S$130 million.

Source : Channel NewsAsia – 20 Jan 2011

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