Cache Logistics Trust's Q2 distributable income rises by 20% to $16.6 million

Cache Logistics Trust has posted a 7.7 per cent rise in second quarter distribution per unit (DPU) to 2.147 cents.

This was on the back of a 19.8 per cent rise in distributable income to $16.6 million for the three months to June 30.

On an annualised basis, the DPU works out to a yield of 6.9 per cent based on the closing price of $1.25 on the last trading day in June.

Gross revenue grew by 16.5 per cent to $20.4 million, mainly due to rental contributions from new properties and improved performance from existing assets due to higher rents.

At the end of the quarter, Cache's portfolio included 13 logistics warehouse properties in Singapore and China, with gross floor area of about 5.1 million square feet.

Overall portfolio occupancy was maintained at 100 per cent, with a weighted average lease to expiry of 3.6 years.