ARA LOGOS records 9% lower DPU in Q3 FY21

Meanwhile, its NPI increased by 13.9%.

ARA LOGOS Logistics Trust Management Limited revealed that ARA LOGOS Logistics Trust’s (ALOG) recorded a 9% year-on-year (YoY) decrease in distribution per unit (DPU) to 1.33 cents in the third quarter (Q3) of the financial year 2021 (FY2021).

This was due to the equity raised for the Australian portfolio acquisition.

Meanwhile, its distribution to shareholders grew by 13.9% YoY.

The company also observed an increase of 15.1% YoY in gross revenue and 13.9% in net property income. 

Performance for this period was mainly attributed to the Australian portfolio in April 2021 and the divestment of Kidman Park in Australia and ALOG Changi DistriCentre 2 in Singapore, in May and June 2021, respectively. Higher NPI and contributions from investments in the New LAIVS Trust and Oxford Property Fund.

A strong balance sheet was also seen as the company reported lower aggregate leverage of 37.8%. All-in financing costs also experienced a reduction to 2.77% in Q3 FY 2021 compared to 2.92% in the first half of FY 2021.

Debt maturity profile also stayed well-spread with a weighted average tenure of debt outstanding at three years and sufficient liquidity.