Mapletree Industrial Trust Q4 DPU up 2.5%

MAPLETREE Industrial Trust reported a distribution per unit (DPU) of 2.88 Singapore cents for the fourth quarter ended March 31, 2017, up from 2.81 cents from a year ago, or a 2.5% increase.

Gross revenue edged up 4.5 per cent year on year at S$87.81 million, due mainly to higher rental rates achieved in flatted factories, hi-tech buildings and stack-up/ramp-up buildings, as well as revenue contribution from phase one of the build-to-suit project for Hewlett-Packard Singapore from mid-December 2016.

Meanwhile, net property income rose 6.4 per cent to S$65.97 million, in line with higher gross revenue and slightly lower property operating expenses.

Unitholders will receive their quarterly DPU on May 30.