Net property income for the quarter grows 2.6% on the year to S$133.2 million, from S$129.9 million
THE distribution per unit (DPU) for Mapletree Industrial Trust (MIT) rose 1.5 per cent to S$0.0341 for its third quarter ended Dec 31, 2024, from S$0.0336 in the prior year.
Revenue for the quarter was up 2 per cent at S$177.3 million, from S$173.9 million in the year-ago period.
This was due to contributions from a newly acquired mixed-use facility in Tokyo, the completion of fitting out works of a data centre in Osaka, as well as new leases and renewals across various property clusters, the trust’s manager said on Wednesday (Jan 22).
Net property income (NPI) for the quarter grew 2.6 per cent on the year to S$133.2 million, from S$129.9 million.
Distributable income rose 2 per cent on the year to S$97.1 million, from S$95.2 million.
The distribution will be paid out on Mar 14, 2025, after books closure on Feb 3.
Ler Lily, chief executive officer of the manager, noted that MIT “continued to deliver healthy financial returns underpinned by our steady portfolio rebalancing initiatives in Japan and resilient operational performance”, despite macroeconomic uncertainties.
Units of MIT closed at S$2.21 on Wednesday, down S$0.03 or 1.3 per cent, before the results were released.
Copyright SPH Media. All rights reserved.
