Mapletree Logistics Trust's Q2 DPU edges up to 1.887 Singapore cents

HIGHER revenue from its Hong Kong properties, four acquisitions in Australia, Malaysia and Vietnam completed in FY17, as well as higher translated revenue from the stronger Australian dollar lifted results for industrial landlord Mapletree Logistics Trust (MLT) in its second quarter.

Distribution per unit edged up to 1.887 Singapore cent from 1.86 Singapore cent in the preceding year, the group said in a Singapore Exchange filing on Monday evening.

That came as Q2 income available for distribution expanded 3.5 per cent to S$48.2 million from the year-ago period.

For the three months ended Sept 30, gross revenue rose 2.3 per cent to S$93.7 million from the previous year. Net property income rose 2.5 per cent to S$78.7 million from the preceding year.

Its portfolio includes logistics properties in Australia, China, Hong Kong, Japan, Malaysia, Singapore, South Korea and Vietnam.

MLT units closed S$0.035 or 2.8 per cent higher at S$1.275 on Monday.