Mapletree Logistics Trust’s net property income grows by 5.7% to $75.2m
On back of organic growth from Hong Kong and Japan.
The property firm is entering a period of steady growth as its gross revenue grew by 5.3% to $89.6m.
According to a report by OCBC research, growth can be attributed mainly to organic growth from Hong Kong and Japan, along with contribution from acquisitions.
However, OCBC Research added that this was partly offset by lower revenue from Singapore.
“NPI rose 5.7% to S$75.2m, which translates into a NPI margin of 84.0% (+0.3 ppt YoY). This was MLT’s first positive YoY growth in its NPI margin since 4QFY13, following 12 consecutive quarters of margin pressure,” OCBC said.
Meanwhile, DPU was flat at 1.85 cents.
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