Mapletree Logistics Trust posts 1.9% DPU growth in Q3

DPU stood at 2.227 cents on an enlarged unit base.

Mapletree Logistics Trust reported its distribution per unit (DPU) grew by 1.9% to 2.227 cents on an enlarged unit base. 

The company noted the DPU would have increased by 8.6% or 0.189 cents during the quarter on like-for-like basis based on the 3Q FY21/22 exchange rates.

Over the same period,  the amount distributable to Unitholders was S$107.1m, 10.8% higher year-on-year.

Read more: Mapletree Logistics Trust’s net property income up 10.8% to $160m in Q2

Moreover, in the first nine months of the year, the DPU increase by 3.4% to 6.743 cents on an enlarged unit base. It would have increased by 7.3% or 0.477 cents in the same period on a like-for-like basis based on the 9M FY21/22 exchange rates. 

The amount distributable to Unitholders also grew by 14.5% YoY to S$323.7m.

 “While MLT has delivered another set of resilient results, we are now facing the headwinds from high interest costs and forex volatility. We will continue to implement prudent risk management strategies to navigate these challenges,” Ng Kiat, CEO of the Mapletree Logistics Trust Management Ltd., said.

“In line with our portfolio rejuvenation strategy, we are divesting three properties in Singapore and Malaysia, which will provide us with greater financial flexibility to pursue investment opportunities of modern, high-specs assets.”