Mapletree revenue up by 15% in 2018

Mapletree Logistics Trust has acquired logistics property in South Korea for KRW35.8bn.

Mapletree Logistics Trust (MLT) has reported FY2018 results. Total revenues were S$454.3m* (€285.3m), corresponding to a year-on-year increase of 15.0%.

Its net property income increased to S$389.5m, up 16.7% year-on-year. Although property expenses increased due to acquisitions and higher operation and maintenance expenses, they were partly offset by divestments.

Singapore remains the company’s largest market, accounting for 36.2% of total revenues. All geographical segment revenues increased; however, Hong Kong revenues experienced a significant jump from S$75.1m to S$112.1m and now accounts for 24.7% of total revenues. The increase in Hong Kong revenues was partly aided by acquisitions and a stronger Hong Kong Dollar.

*f € = S$1.59 / $ = S$1.35

Source: Mapletree Logistics Trust