MLT posts DPU of 2.271 cents in Q1 FY23/24

It was 0.1% higher than the 2.268 cents recorded in Q1 FY22/23.

Mapletree Logistics Trust (MLT) documented a net property income of $158m in Q1 FY23/24 from $163m in the same period in FY22/23.

In an unaudited condensed interim financial statement, MLT also posted a decline in the gross revenue to $182.1m in FY23/24 from $187.6m in FY 22/23.

Amount distributable to unitholders, meanwhile, went up to $111.9m in Q1 FY23/24. 

The period of FY23/24 started with 185 properties and ended with 193 properties, MLT said. 

The financial period also includes partial distribution of gain from the divestment of 3 Changi South Lane of $2.868m per quarter (for 2 quarters from 4Q FY22/23) and full distribution of written back provision of capital gain tax for 7 Tai Seng Drive of $4.729m, 4 Toh Tuck Link of $528,000 and 531 Bukit Batok Street 23 of $310,000.