If the divestment gain is excluded, MLT's core DPU would be down 5% y-o-y, no thanks to higher financing costs and unfavourable forex.
DBS Group Research has maintained its "buy" call and $1.88 on Mapletree Logistics Trust (SGX:M44U
) , following its set of "resilient" 2QFY2024 earnings that came in within expectations, despite the tough operating environment.
For the three months to Sept 30, MLT, which runs a $12.8 billion portfolio of logistics assets, reported distribution per unit of 2.268, up 0.9% y-o-y, partly helped by divestment gains. This brings 1HFY2024 DPU to 4.539 cents.
