Mapletree Logistics Trust’s DPU down 12.4% YoY in Q1

Its net property income stood at $153.4m, a 2.1% YoY decline.

Mapletree Logistics Trust (MLT) reported a 12.4% year-on-year (YoY) decline in Distribution per unit (DPU) to $0.01812 during the first quarter of the year.

Its net property income stood at $153.4m, 2.1% lower YoY. Its profit distributable to unitholders fell by 6.2% YoY to $92m.

Gross revenue also dropped 2.4% YoY to $177m. The decline was mainly due to the impact of foreign exchange from the depreciation of various currencies against the Singapore Dollar.

Portfolio occupancy stood at 95.7% whilst the weighted average lease expiry of the portfolio (by net lettable area) is stable at 2.7 years.

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