MLT's Q1 DPU up on improved results

MAPLETREE Logistics Trust (MLT) posted improved results for the first quarter ended June 30, with available distribution per unit (DPU) rising 5.6 per cent from 1.80 Singapore cents to 1.90 Singapore cents.

This was on the back of amount distributable to unitholders increasing by 6 per cent to S$46.6 million from S$44 million a year ago.

Net property income (NPI) rose 5.6 per cent from S$65.3 million to S$69 million. This was boosted by a 7.4 per cent increase in gross revenue to S$81 million, although property expenses rose 19 per cent to S$12 million.