Mapletree Industrial Trust's third data-centre BTS. (Photo: Mapletree Industrial Trust)

Mapletree Industrial Trust has achieved a distribution per unit (DPU) of 2.92 Singapore cents for its 1Q FY17/18, up 2.5% year-on-year from the 2.85 cents recorded in the corresponding period of the previous financial year.

Gross revenue and net property income (NPI) for the period increased by 1.1% and 3.4% year-on-year to SGD88.8 million (USD65.2 million) and SGD68.1 million respectively.

Meanwhile distributable income for the quarter came in at SGD52.9 million, a 2.7% year-on-year increase from the SGD51.5 million reported in 1Q FY16/17.

“The year-on-year growths in distributable income and DPU were driven mainly by revenue contribution from Phase One of the BTS [build-to-suit] development for HP”, said Tham Kuo Wei, CEO of the REIT’s manager.

“With a low aggregate leverage of 29.8% as at 30 June 2017, we have sufficient headroom to support the pursuit of investment opportunities to grow the portfolio”, he added.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.