Cache Logistics Trust’s revenue inched up 0.4% in Q3

DPU also climbed 0.7%.

Cache Logistics Trust reported flattish results in the third quarter. Revenue and DPU climbed 0.4% and 0.7% YoY to S$20.8m and 2.14 S cents, respectively.

According to OCBC, CACHE’s portfolio occupancy was steady at 99.5% (2Q14: 99.6%), while balance sheet remains healthy with a gearing ratio of 28.8%, as at 30 Sep 2014. 

“For 9M14, revenue growth of 3.3% to S$62.2m formed 72.7% of our FY14 forecast, while DPU of 6.427 S cents (-1.2%) constituted 74.0% of our full-year projection. CACHE also completed the refinancing of its existing S$375m loan facilities, which increased its weighted average debt maturity from 1.6 years to 4.2 years. It no longer has any debt due until Oct 2017,” noted OCBC.