Mapletree Logistics Trust DPU up 6.3% on-year

Mapletree Logistics Trust (MLT) has reported a 6.3 per cent on-year rise in its distribution per unit (DPU) for its fiscal first quarter, with its financial performance boosted by contributions from newly acquired assets in Japan, South Korea and Malaysia.

Its DPU climbed to 1.70 cents per unit from April to June, up from 1.60 cents in the same period last year.

Revenue rose higher to S$77.1 million, up 17.1 per cent year-on-year.

Meanwhile, distributable income climbed by 5.9 per cent to S$41 million.

“MLT’s larger portfolio of income-generating assets and prudent financial and capital management have enabled us to continue delivering sustained returns for our unitholders,” Richard Lai, chief executive officer of the trust’s manager, said.

“We are reviewing our assets closely to identify opportunities for asset rejuvenation or redevelopment, to maintain our competitive edge.”

In a statement, MLT said it has enjoyed a 99 per cent occupancy rate in the past quarter.

MLT is a wholly-owned subsidiary of Singapore developer Mapletree Investments.

Source : Channel NewsAsia – 19 Jul 2012

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