Mapletree Industrial Trust's fourth-quarter distribution per unit rises by 6.8%

Mapletree Industrial Trust posted a distribution per unit (DPU) of 2.37 cents for the fourth quarter on Tuesday, up 6.8 per cent from the preceding year.

Net property income for the three months to March 31 was $49.6 million, climbing 7.8 per cent year-on-year.

This was on the back of an 8.8 per cent increase in gross revenue to $72.1 million from the preceding year.

The trust owned 83 properties in Singapore worth $2.9 billion combined as at March 31 this year.

For the full financial year ended March 31, the DPU was 9.24 cents, up 9.9 per cent from the preceding year.

Net property income for the 12 months expanded 14.1 per cent to $195.4 million and gross revenue grew 12.2 per cent to $276.4 million.

The counter lost half a cent to close at $1.56 on Tuesday. The results were posted after the market closed.