Mapletree Logistics Trust reported 23.7% y-o-y growth in gross revenue for 1QFY2021/22 ended June 30, 2021, a $31.4 million growth to $163.7 million.

The revenue growth was mainly due to higher revenue from existing properties, contributions from acquisitions in China, Vietnam, South Korea, Japan, Australia and India completed in FY2020/21 and completed redevelopment of Mapletree Ouluo Logistics Park Phase 2 in 1QFY2020/21. 

Property expenses increased by $6.0 million, or 44.7% y-o-y, mainly due to property expenses from acquisitions completed in FY2020/21. As a result, net property income for 1QFY2021/22 increased by $25.3 million, or 21.3% y-o-y.

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