Wednesday, April 27, 2011

Mapletree Industrial Trust results beats forecasts!

Mapletree Industrial Trust achieves DPU of 1.93 cents for 4Q

TUESDAY, 26 APRIL 2011 22:20

Mapletree Industrial Trust (MIT) says it has achieved a DPU of 1.93 cents for 4Q FY2010, exceeding forecast by 9.7%.

For the period from listing sate of 21 October 2010 to end of Financial Year 2010 of 31 March 2011, total DPU was 3.45 cents, or 11.3% higher than forecast.
NAV per unit improved to $0.95 from $0.86 due mainly to gains from revaluation of MIT’s investment properties.

Distributable income was $28.3 million, net property income was $37.2 million while gross revenue was $53.4 million.

MIT says it will continue to optimise renewal rental rates. The retention rate of existing tenants was 85.9% for 4Q FY2010, an increase from the retention rate of 80.6% achieved in the previous quarter. The average rental rate for leases renewed during the quarter was 15.5% higher than the average rental rate before renewal.

The above article is quoted from The Edge website as listed below.

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