Mapletree Logistics Trust posts 6.7% rise in Q2 DPU

Mapletree Logistics Trust has reported a 6.7 per cent rise in distribution per unit (DPU) for its second quarter ended June to 1.6 Singapore cents.

That is up from 1.5 Singapore cents in the same period last year.

The company said that this is mostly due to acquisitions, positive rental reversions and higher occupancy rates of 98.9 per cent.

Net property income for the second quarter was S$57 million, a growth of nearly 25 per cent from the same quarter in 2010.

Mapletree’s amount distributable for the quarter increased about 26 per cent to S$38.8 million.

Mapletree’s executive director and CEO, Richard Lai, said that the results for the second quarter have been “encouraging” despite the global uncertainties.

He said: “Nonetheless, we are cautiously optimistic about the future.

“We feel that every adversity brings opportunity so we are looking forward to a good financial year.”

Going forward, the company said that it sees some acquisition opportunities in the next six months in Japan, Singapore and South Korea.

Mr Lai added: “I am also hopeful that we can get something out of China within the next six months.”

Source : Channel NewsAsia – 22 Jul 2011

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