Cache Logistics Trust's NPI dips 3.3% to $21.34m in Q3

Gross revenue fell after Cache Changi Districentre 3 was sold.

Cache Logistics Trust's (CACHE) net property income (NPI) dipped 3.3% YoY from $22.07m to $21.34m in Q3.

According to its financial statement, distributable income fell by 0.8% YoY from $16.58m to $16.45m. The distribution per unit (DPU) slipped by 12.8% YoY from 1.77 cents to 1.54 cents due to rights issues.

Gross revenue fell after Cache Changi Districentre 3 was sold. There was also lower income from 51 Alps Avenue, which is the subject of legal proceedings.

This was partially offset by higher revenue from DHL Supply Chain Advanced Regional Centre (DSC ARC), Cache Cold Centre and the Australian portfolio.

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