Mapletree Logistics Trust posts 3.3% rise in Q2 distribution per unit to 1.88 cents

MAPLETREE Logistics Trust on Monday posted a 3.3 per cent increase in distribution per unit to 1.88 Singapore cents for its second quarter ended Sept 30, 2014.

This came on the back of a 4 per cent increase in the amount distributable to unitholders to S$46.3 million.

Net property income rose 3.1 per cent to S$68.7 million, while gross revenue rose 5.8 per cent to S$81.5 million.

The trust said the revenue increase was mainly driven by contributions from Mapletree Benoi Logistics Hub and two recent acquisitions in Malaysia and South Korea, as well as higher revenue from existing assets.

Revenue growth was partly impacted by lower occupancy at several newly converted, multi-tenanted buildings in Singapore where the single-tenant master leases had expired, it added.