Cache Logistics' Q1 DPU down 4%

Warehouse property owner Cache Logistics Trust will pay unitholders a distribution per unit of 2.14 cents for the first quarter, down 4 per cent from 2.234 cents in the same quarter the previous year.

First quarter distributable income rose 5.5 per cent over the same period a year ago to $16.7 million , while gross revenue was up 8.2 per cent to $20.7 million.

Net property income rose 8.2 per cent to $19.6 million.

The increase was mainly due to rental contributions from new acquisitions made in 2013 and built-in rental escalation within its portfolio's master leases, the trusts' management said.