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Mapletree Logistics Trust's Q3 distribution per unit (DPU) slightly higher at 1.87 cents

MAPLETREE Logistics Trust on Monday reported a distribution per unit (DPU) of 1.87 Singapore cents for its third quarter ended Dec 2014. This was just a tad higher than the 1.84 cents that it paid out a year ago.

This came on the back of a 2.7 per cent increase in its total amount distributable to unitholders to S$46.19 million,

Gross revenue rose 6.2 per cent to S$82.92 million, helped by contribution from six properties acquired in China, Singapore, Malaysia and South Korea during this financial year, as well as from Mapletree Benoi Logistics Hub and higher revenue from its existing assets.

Stripping out the forex impact - mainly the depreciation of the Japanese yen which resulted in lower translated revenue, gross revenue would have increased by 7.1 per cent year-on-year, it said.

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As it is, the income streams from Japan are substantially hedged, which mitigated the impact of the weaker yen on distributions, it added.

Accordingly, net property income went up 3.1 per cent to S$69.48 million.

The distribution will be paid on Feb 27.