- Mapletree Logistics Trust (SGX:M44U)’s 2QFY24 results met our expectations. Gross revenue and net property income (NPI) rose 1.5% and 1.2% y-o-y to S$186.7m and S$162.0m, respectively. This was driven by organic growth in Singapore and Hong Kong, but partially offset by weaker contribution from China and depreciation of CNY, JPY, HKD and AUD against S$.
- - Read this at SGinvestors.io -
2QFY24 results met our expectations
- Despite higher borrowing costs (+10.2% y-o-y), Mapletree Logistics Trust managed to deliver positive y-o-y DPU growth of 0.9% to S$0.02268 due in part to the distribution of divestment gains amounting to S$8.8m (2QFY23: S$1.8m). See Mapletree Logistics Trust's dividend dates.
- - Read this at SGinvestors.io -
Weaker operating performance from China but this was well flagged by management previously
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-10-25
Read also OCBC's most recent report:
2024-10-23 Mapletree Logistics Trust - Weakness In DPU Not Unexpected.
Previous report by OCBC:
2024-07-25 Mapletree Logistics Trust - Recalibrating Our DPU Expectations.
Price targets by 2 other brokers at Mapletree Logistics Trust Target Prices.
Listing of research reports at Mapletree Logistics Trust Analyst Reports.
Relevant links:
Mapletree Logistics Trust Share Price History,
Mapletree Logistics Trust Announcements,
Mapletree Logistics Trust Dividends & Corporate Actions,
Mapletree Logistics Trust News Articles
