- Mapletree Logistics Trust (SGX:M44U) reported a resilient set of results with 4QFY24 DPU of 2.211 cents (-2.5% y-o-y, -1.9% q-o-q).
Strength in diversity
Resilient DPU of 9.0 cents (stable y-o-y) in FY24, core DPU of 8.3 cents (-9.0% y-o-y) ahead of estimates
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- While distributing divestment gains has always been Mapletree Logistics Trust’s policy, FY24’s DPU was enhanced by an exceptional S$41m in divestment gains, translating to a DPU boost of 0.83 cents worth compared to 0.13 cents a year ago.
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- The steady performance was given a boost by contribution from acquisitions, offset by divestments and the depreciation of the CNY, JPY, HKD, MYR, AUD against the S$. On a constant currency basis, gross revenues and net property income would have risen by 4.1% and 3.6% respectively.
Dip in net asset values.
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