Mapletree Logistics Trust DPU up 9.7% on-year to 1.70 cents

Mapletree Logistics Trust (MLT) said its distribution per unit rose 9.7 per cent to 1.70 cents on-year for the January to March period.

In a stock exchange filing, the trust said this was supported by earnings from the four properties acquired in the past 15 months and growth from its existing portfolio.

Net property income for the quarter rose 12.3 per cent to S$61.4 million.

Meanwhile, property expenses for the three-month period rose 30 per cent to S$9.8 million.

The trust, which changed the end of its financial year to March, reported a DPU of 8.24 cents for its full-year consisting 15 months.

“For the coming year, we will continue to focus on optimising yield through active asset and lease management, and pursue strategic investment opportunities that deliver long-term value,” said Mr Richard Lai, CEO of MLT, in a statement.

As at end March, the trust has a portfolio of 105 properties with a book value of about S$4.1 billion.

Properties in Singapore, Japan and Hong Kong are the key income contributors for the trust.

The company said it will pay the DPU to unit holders on May 30.

Source : Channel NewsAsia – 19 Apr 2012

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