Mapletree Industrial Trust posts 7.3% rise in DPU for Q2

Mapletree Industrial Trust (MIT) posted a 7.3 per cent increase in distribution per unit to 2.79 Singapore cents in the second quarter ended September from 2.60 cents a year ago.

Gross revenue rose 6.2 per cent to S$83 million led by contribution from the build-to-suit (BTS) project for Equinix Singapore and higher occupancies and rental rates achieved in the portfolio.

Net property income increased by 8.6 per cent to S$61 million owing to higher gross revenue as property operating expenses remained at S$21.7 million for the two quarters.

MIT's distributable income for the period under review rose 7.7 per cent to S$48.9 million.

The counter shed two Singapore cents or 1.3 per cent to finish at S$1.50 on Tuesday.