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Mapletree Logistics Trust Q2 2021 DPU Up 5.7%

Mapletree Logistics Trust Q2 2021 DPU Up 5.7%

October 26, 2021 – Mapletree Logistics Trust (MLT) announced that for its financial quarter ended 30 September 2021 (Q2), its amount distributable to Unitholders rose 19.2% year-on-year to S$93.4 million, while distribution per Unit (DPU) grew 5.7% to 2.173 cents, on an enlarged unit base due to the equity fund raising completed in 3Q FY20/21.

Gross revenue for 2Q FY21/22 was S$165.1 million, an increase of 25.2% year-on-year. Similarly, net property income (NPI) saw a 21.5% rise to S$144.4 million. Growth was driven by higher revenue from existing properties, contributions from accretive acquisitions completed in FY20/21 and higher occupancy from Mapletree Ouluo Logistics Park Phase 2 which completed redevelopment in 1Q FY20/21.

Overall growth was moderated by a depreciation in HKD and JPY which was partially offset by a stronger CNY, although the impact of currency fluctuations at the distribution level is mitigated through hedging.

Ms Ng Kiat, Chief Executive Officer of the Manager said, “Amid the resurgence of infections in the region, our top priority is to maintain a safe and healthy environment for our people, while working closely with tenants to keep their operations stable. In line with our strategy to strengthen our regional footprint, we have recently announced the proposed acquisitions of three modern logistics assets in Australia, Malaysia and South Korea.

“We will continue to focus on building up a quality portfolio and scaling up our network presence to capture opportunities in the logistics market.”

Read more here..

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