- 3QFY24 results was a mixed bag. Mapletree Logistics Trust generated healthy rental reversions of 3.8% driven by Singapore, Australia and South Korea, despite the drag from China. Portfolio occupancy slipped 1.0ppt q-o-q to 95.9% due to non-renewals at older specifications properties in Singapore and Hong Kong.
- - Read this at SGinvestors.io -
Mapletree Logistics Trust (MLT)'s 3QFY24Results
- Mapletree Logistics Trust (SGX:M44U) reported DPU of 2.253 cents for 3QFY24 (+1.2% y-o-y), which is above our expectation. The results included distribution of divestment gains of S$12.4m. See Mapletree Logistics Trust's dividend dates.
Held back by strong Singapore dollar.
- - Read this at SGinvestors.io -
- The results were weighted down by depreciation of the Chinese yuan (-4% y-o-y), Japanese yen (-8% y-o-y), Malaysian ringgit (-6% y-o-y) and South Korean won (-4% y-o-y) against the Singapore dollar.
- On a constant currency basis, Mapletree Logistics Trust's gross revenue and NPI would have grown by a stronger 4.8% and 4.1% y-o-y respectively.
Portfolio occupancy eased 1.0ppt q-o-q to 95.9% in 3QFY24.
- Read more at SGinvestors.io.
