Mapletree Logistics Trust posts DPU of 1.55 cents for Q4

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

This is 1 per cent higher than 1.54 cents in the third quarter of last year.

Distributable income grew 17 per cent for Q4 2010 to S$36.8 million, while net property income grew 13 per cent to S$53.8 million.

MLT said the improved fourth quarter performance can be attributed to the 5 properties acquired during the period – among them 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 Malaysia properties.

Meanwhile, full year DPU for 2010 rose 3 per cent to 6.09 cents from 5.91 cents one year ago and net property income for 2010 rose 7 per cent to S$193 million from S$180.8 million one year ago.

Amount distributable for 2010 rose 10 per cent to $130 million from $117.9 million one year earlier.

Source : Channel NewsAsia – 21 Jan 2011

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