Mapletree Logistics Hub Tsing Yi. (Photo: Mapletree Logistics Trust)

Data from Mapletree Logistics Trust’s latest disclosure has been updated into the Singapore REITs table.

Mapletree Logistics Trust (MLT) reported on 28 April that its distributable income for 4Q FY21/22 rose 16.7% year-on-year to SGD108.0 million.

Accordingly, the REIT’s DPU for the period rose 5.0% to 2.268 cents on an enlarged unit base following the equity fundraising in 3Q FY21/22.

Gross revenue for 4Q FY21/22 increased 16.5% year-on-year to SGD182.9 million.

Meanwhile, net property income rose 14.9% to SGD157.1 million.

The improved performance was mainly due to higher revenue from existing properties, contributions from accretive acquisitions completed in FY21/22 and FY20/21, and lower rental rebates granted to eligible tenants impacted by COVID-19, said the REIT.

Consequently, FY21/22 amount distributable to unitholders grew 17.3% year-on-year to SGD390.7 million, while DPU rose 5.5% to 8.787 cents respectively.

MLT was last done on the Singapore Exchange at SGD1.78, which presently implies a distribution yield of 4.85% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.