Mapletree Logistics Trust's Q2 DPU stays flat at 1.86 cents

MAPLETREE Logistics Trust (MLT), which owns a suite of industrial properties across Asia, said distributable income to unitholders for its second quarter ended Sept 30, 2016 was S$46.6 million, up one per cent from S$46.2 million a year ago. Distribution per unit (DPU) for the quarter stayed flat at 1.86 Singapore cents.

Gross revenue was up 4.7 per cent to S$91.6 million, while net property income was up 5.3 per cent to S$76.8 million.

But unitholders got the same amount after taking into account a higher amount distributable to perpetual securities holders. MLT issued another S$250 million of perpetual securities in May.

MLT's overall portfolio occupancy rose to 96.4 per cent as at end-September, up from 95.4 per cent a quarter ago. Rental rate increases for the latest quarter were around 2 per cent, contributed by Singapore, Hong Kong and South Korea.

A results briefing will be held on Tuesday morning at 11am. A live audio webcast of the briefing will be available here:

http://edge.media-server.com/m/p/dwnh7t9i

MLT last traded at S$1.055, up half a cent, before results were out. Net asset value at end-September was S$1.