Mapletree Industrial Trust DPU up 1.2% YoY in Q1

Revenue also increased by 2.7% to $175.3m during the same period.

Mapletree Industrial Trust reported a 1.2% year-on-year (YoY) increase in its distribution per unit (DPU) to $0.0343 in the first quarter of the financial year 2024/2025. 

The trust’s gross revenue for the quarter also rose 2.7% to $175.3m, whilst net property income grew 1.3% to $132.5m. 

The revenue increase was driven by contributions from the Osaka Data Centre, acquired on 28 September 2023, as well as new leases and renewals across various property clusters.

Moreover, distribution to unitholders for 1Q FY24/25 also saw a 3.7%YoY rise to $97.3m. This increase was attributed to higher net property income and greater distributions from the joint venture, Mapletree Rosewood Data Centre Trust. 

Consequently, the DPU of 3.43 cents for the quarter exceeded the 3.39 cents reported in the same period last year.