Mapletree Logistics Trust Q4 DPU up 3.3%

View of Mapletree Logistics Hub, located at Toh Guan Road in Jurong East.
View of Mapletree Logistics Hub, located at Toh Guan Road in Jurong East.PHOTO: MAPLETREE

SINGAPORE - Mapletree Logistics Trust has delivered a fourth quarter distribution per unit (DPU) of 1.86 cents, up 3.3 per cent from a year ago.

Net property income in the three months ended March 31 was S$80.3 million, up 10.5 per cent from a year ago on a 9.1 per cent hike in gross revenue to S$96.5 million.

This was mainly driven by stabilisation of conversions, contributions from asset enhancement projects, as well as accretive acquisitions.

Overall growth was partly offset by lower contributions from certain properties undergoing transitory downtime in Singapore and South Korea.

Amount distributable to unitholders rose 4.1 per cent to S$46.6 million.