SINGAPORE (Oct 29): RHB Research and OCBC Investment Research say Cache Logistics Trust’s (Cache) 3Q18 results came within their respective expectations.

Revenue increased 14.8% y-o-y to $31.5 million, mainly due to the nine Australian warehouses which were acquired in Feb, higher revenue from Schenker’s new lease agreement, the top-up to market rental following the 51 Alps Avenue resolution, and higher revenue from CWT Commodity Hub.

NPI increased 8.1% y-o-y to $23.1 million. 3Q18 DPU from operations dropped 3.3% y-o-y to 1.439 cents, while DPU from capital dropped 32.1% y-o-y to 0.036 cents. As a result, total DPU dropped 4.3% y-o-y to 1.475 cents.

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