ALOG Reports Stronger Performance In 3Q FY20 And Announced Maiden Acquisition Post Rebranding Key Highlights
October 27, 2020 – ARA LOGOS Logistics Trust Management Limited, the manager f ARA LOGOS Logistics Trust (ALOG), announced today a Distributable Income of S$16.0 million for the period 1 July 2020 to 30 September 2020. The distribution per unit (DPU) for 3Q FY20 was 1.461 cents and will be paid to Unitholders on 27 November 2020.
Year-on-year (“y-o-y”), ALOG reported a stronger performance where Gross Revenue and NPI saw an increase of 6.5% and 8.3% to S$29.5 million and S$22.9 million respectively compared to 3Q FY19. Higher contribution from the overall portfolio and commencement of new leases for certain properties in 3Q FY20 has translated into higher revenue generated during the quarter. 3Q FY20 DPU also grew 11.3% y-o-y to 1.461 cents from 1.313 cents in 3Q FY19. On a like-for-like basis, excluding capital and one-off distributions, DPU would have been 17.9% higher y-o-y.
On a quarter-on-quarter (“q-o-q”) basis, 3Q FY20 Gross Revenue and NPI was 1.8% and 4.6% higher at S$29.5 million and S$22.9 million respectively as compared to S$29.0 million and S$21.9 million in 2Q FY20. Similarly, DPU increased 10.2% q-o-q in 3Q FY20 from 1.326 cents in 2Q FY20.
After prudent consideration, the Manager has further released S$1.0 million out of the remaining S$2.0 million retained distributable income as part of 3Q FY20’s distributable income to Unitholders.(8) The Manager will continue to review the release of the remaining retained distribution income while remaining mindful of the current conditions.
YTD FY20 Gross Revenue and NPI rose 1.1% and 2.2% to S$87.3 million and S$66.8 million respectively as compared to YTD FY19 mainly due to the commencement of new leases at certain properties and higher revenue contribution across the portfolio. DPU was however lower by 8.8% in YTD FY20 as compared to YTD FY19 due to capital and one-off distributions. On a like-for-like basis, excluding capital and one-off distributions, DPU would have been 7.0% higher instead.
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