On 26th October 2022, Mapletree Industrial Trust announced their 2QFY22/23 financial results. If you have been following this REIT, the stock price has been plunging. Many investors have been tempted to jump in to add this popular REIT to their stock portfolio. How did Mapletree Industrial Trust fare? Let us take a look at its latest results below.
Mapletree Industrial Trust 2QFY22/23 Financial Results
Gross revenue rose 12.8% to S$175.5 million. The gain was driven by contribution from the 29 data centres acquired in the United States. However, the profit was partially offset by higher property operating expenses and borrowing costs. The huge jump in property expenses was glaring.
As a result, Distribution Per Unit (DPU) fell 3.2% to 3.36 cents as compared to 3.47 cents a year ago.
|
2QFY22/23
(S$’000) |
2QFY21/22
(S$’000) |
Change |
| Gross Revenue |
175,512 |
155,560 |
12.8% |
| Net Property Income |
130,325 |
120,320 |
8.3% |
| Property expenses
|
(45,187) |
(35,240) |
28.2% |
| Amount Distributable To Unitholders |
88,977 |
88,377 |
0.7% |
| Distribution Per Unit (“DPU”) (cents) |
3.36 |
3.47 |
(3.2%) |
Mapletree Industrial
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