Cache Logistics Trust Q4 DPU drops

Singapore

LOWER occupancy rates and a spike in property expenses dented fourth-quarter earnings for warehouse owner Cache Logistics Trust, which also reported a rise in financing costs on Monday.

Warning of more challenging industrial property market conditions ahead in a Singapore Exchange filing, Cache posted a smaller distribution per unit (DPU) for Q4 as an increase in distributable income was outpaced by a spike in the number of units issued.