Mapletree Industrial Trust's property at Changi Business Park, the Signature. (Photo: REITsWeek)

Mapletree Industrial Trust has recorded a distribution per unit (DPU) of 2.88 Singapore cents for its 3Q FY17/18, which is an increase of 1.8% over the 2.83 cents achieved in the corresponding period of the previous financial year.

Gross revenue for the quarter rose 8.3% year-on-year to SGD91.5 million (USD69 million), while net property income grew 11.7% to SGD70.9 million.

Correspondingly distributable income for the quarter was SGD53.5 million, a 4.6% year-on-year increase from the SGD51.1 million reported in the previous financial year.

The REIT has attributed the results to revenue contribution from the build-to-suit project for HP Singapore (Private) Limited, partially offset by lower portfolio occupancy.

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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.