Mapletree Logistics Trust’s NPI falls 2.1% YoY to $158.6m in Q2 FY24/25

The trusted cited three reasons for the decline.

Mapletree Logistics Trust (MLT) recorded a 2.1% YoY lower net property income of $158.6m in Q2 FY 24/25.

The business trust attributed the lower NPI to lower revenue contribution from China, the absence of contribution from divested properties, and the depreciation of various regional currencies against the Singapore Dollar.

On a constant currency basis, NPI would have declined by 0.3%.

Stronger performance in Singapore and Australia and contributions from recent acquisitions offset the decline.

With a lower NPI, the trust's distributable income and distribution per unit also declined.

Distributable income in Q2 was $102.3m, down 9.1% YoY, whilst DPU fell 10.6% YoY to $0.02027.

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