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Mapletree Logistics Trusts posts 6% rise in Q1 distributable income

Published on Jul 21, 2014 9:32 PM

SINGAPORE - Asia-focused Mapletree Logistics Trust (MLT) has chalked up a 6 per cent rise in distributable income to unitholders to $46.6 million for the first quarter.

Distribution per unit (DPU) for the three months to June 30 was up 5.6 per cent at 1.9 cents.

Gross revenue rose 7 per cent to $81 million, primarily due to contributions from Mapletree Benoi Logistics Hub and one South Korea property acquired last year, positive rental reversions mainly in Hong Kong and Singapore, as well as higher revenue from four Japan properties which completed the installation of solar panels last year.

Net property income rose by 6 per cent to $69 million after accounting for higher property expenses from the enlarged portfolio and costs associated with the conversions of single-user assets to multi-tenanted buildings in Singapore.

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