Mapletree Industrial Trust's net income shoots up to $472.0m

The increase was driven by the company's data centre acquisitions in the U.S.

Mapletree Industrial Trust (MIT) posted an impressive income growth of 34.5% in FY21/22.

Based on its latest financial statement, MIT said its net income reached $472.0m due to contributions from its acquisition of 29 data centres in the US, and the 14 other data centres previously held under Mapletree Redwood Data Centre Trust3 and 8011 Villa Park Drive, Richmond, Virginia.

As of 31 March 2022, data centres accounted for 54.1% of MIT’s assets under management.

Meanwhile, the improved income also pushed MIT's distribution to Unitholders for FY21/22 by 18.8% YoY to $350.9m, translating to a 10.0% higher full-year distribution per unit of $0.1380.

Looking at quarterly results, income increased by 35.3% to $124.21m, whilst DPU rose by 5.8% to $0.0349

Unitholders can expect their quarterly DPU for the period from 1 January 2022 to 31 March 2022 in cash or Units on 15 June 2022.

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