Cache Logistics Trust 2Q 2010 Results:Not bad
Cache released their maiden results today and it didn’t surprise analyst as it was inline with forecasted figures.
Cache Logistics Trust says it achieved a DPU of 1.71 cents for the 2nd quarter from 12 April 2010 to 30 June 2010 (2Q2010).
On an annualized basis, the DPU is 7.81 cents, 1.4% higher than the annualized forecast of 7.70 cents for 2010.
Net property income was $12.65 million while distributable income hit $10.83 million.
Cache’s current property portfolio comprises six quality logistics assets strategically located in established logistics clusters in Singapore.
All six properties are 100% leased with high underlying occupancy at each premises. The master leases are on long-term, triple-net basis with locked-in annual rent escalations.
The average lease to expiry of 6.1 years as at 30 June 2010.
Disclosure: Drizzt is vested in Cache Logistics Trust
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