Mapletree Industrial Trust’s income inches up 0.1% to $50.4m in Q4

Thanks to contribution from its new data centre.

Mapletree Industrial Trust (MIT) for 4QFY16 edged up 0.1% YoY to $50.4m, thanks to contributions from its newly completed build-to-suit data centre at 26A Ayer Rajah Crescent as well as its sturdy portfolio performance.

According to a report by OCBC, MIT’s DPU was also up 6% YoY to 2.81 S cents, while revenue saw a 5.81% YoY climb to $84m.

Moreover, overall portfolio occupancy was at a stable 94.6% in Q4. Portfolio valuation climbed up 3.9% to $3.56b, with a slight 25 bps compression in cap rates for its Business Park Buildings.

During the quarter, MIT also saw positive rental uplifts for all its segments ranging from 2.1% to 2.8%. The HiTech Buildings were an exception, though, as the property posted a 4.9% pullback.

For FY16, DPU climbed 6.9% YoY to 11.15 S cents, while gross revenue grew 5.6% YoY to $331.6m.

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