Mapletree Industrial's Q1 DPU rises to 2.92 Singapore cents

REVENUE contribution from Phase One of the build-to-suit development for Hewlett-Packard Singapore gave a lift to industrial landlord Mapletree Industrial Trust's (MIT) first quarter results.

Distribution per unit (DPU) edged up to 2.92 Singapore cents from 2.85 Singapore cents in the previous year, the group said in a Singapore Exchange filing on Tuesday evening.

That came as Q1 income available for distribution increased 2.7 per cent to S$52.9 million from the previous year.

For the three months ended June 30, gross revenue increased 5.6 per cent to S$88.8 million from the previous year.

Net property income grew 6.9 per cent to S$68.2 million from the year-ago period.

Its portfolio covers industrial properties in Singapore such as flatted factories, hi-tech buildings and business parks.

MIT units ended S$0.005 or 0.3 per cent lower at S$1.88 on Tuesday.