Cache Logistics Trust Q2 DPU falls 6.9% on sales drop, expenses hit

Singapore

CACHE Logistics Trust on Thursday posted a distribution per unit (DPU) of 1.321 Singapore cents for its second quarter ended June 30, down 6.9 per cent from 1.419 cents in the year-ago period.

Net property income (NPI) fell 5.4 per cent to S$20.5 million from S$21.6 million in the same period last year, due to lower revenue and higher property expenses, mainly from converting the master lease to a multi-tenancy lease structure at Commodity Hub and Cache Gul LogisCentre.