Mapletree Logistics Trust has announced their 1QFY20/21 financial results on 20th July 2020. Again, the manager has produced a set of stellar financial results despite the world is still in the COVID-19 pandemic. However, the manager has cautioned that a prolonged COVID-19 situation and economic downturn may negatively impact demand for warehouse space. In the short term, this Trust is still performing very well.
In 1QFY20/21, Mapletree Logistics Trust’s gross revenue rose 10.5% to S$132.4m and Net Property Income (“NPI”) grew 12.0% to S$118.8m. Distribution Per Unit (“DPU”) grew 1.2% to 2.045 cents.
1QFY20/21 Financial Results
|
1QFY20/21
(S$’000) |
1QFY19/20
(S$’000) |
YoY(%) |
| Gross Revenue |
132,371 |
119,811 |
10.5% |
| Net Property Income |
118,838 |
106,128 |
12.0% |
| Distributable Amount (To Perpetual Securities Holders) |
4,243 |
4,243 |
– |
| Distributable Amount (To Unitholders) |
77,804 |
73,602 |
5.7% |
| Distribution Per Unit (“DPU”) (cents) |
2.045 |
2.025 |
1.0% |
Occupancy
Occupancy stood healthy at 97.2%, reflecting lower occupancies in China and South Korea, which were partly offset by improved occupancy in Singapore.
Debt
As of 30th June 2020, the gearing ratio stood at 39.6%.This is an increase of 0.3% as compared to the gearing ratio of 39.3% on 31st March 2020....
