Mapletree Industrial Trust’s (MIT’s) gross revenue and net property income for FY19/20 grew 7.9% and 10.5% year-on-year to SGD405.9 million, and SGD318.1 million respectively.

The REIT has attributed the growth primarily to higher contributions from 18 Tai Seng, 30A Kallang Place, 7 Tai Seng Drive and Mapletree Sunview 1.

Distributable income for FY19/20 rose 14.5% year-on-year to SGD265.3 million.

The improved performance was mainly due to higher net property income, interest income and contributions from the newly acquired 13 data centres in North America held under Mapletree Rosewood Data Centre Trust.

As such the REIT’s distribution per unit (DPU) for its FY19/20 was 12.24 cents, 0.7% higher than the previous financial year.

Distributable income and DPU for the period from 1 January 2020 to 31 March 2020 are SGD69.2 million and 2.85 cents respectively.

Tax-exempt income of SGD6.6 million relating to the distributions declared by joint ventures had been withheld in 4QFY19/20.

The REIT’s average overall portfolio occupancy for 4QFY19/20 increased to 91.5% from 90.9% in the preceding quarter.

Weighted average lease to expiry (WALE) for the overall portfolio increased from 3.9 years as at 31 December 2019 to 4.2 years as at 31 March 2020.

MIT’s aggregate leverage increased from 34.1% as at 31 December 2019 to 37.6% as at 31 March 2020.

Information from the REIT’s latest results have been updated into the Singapore REITs table.