Cache Logistics Trust's NPI jumped 4% to $23.77m in Q1

Its nine properties in Australia and the conversion of CWT Commodity Hub's lease structure led revenue increases.

Cache Logistics Trust's net property income (NPI) grew 4% to $23.77m in Q1 2019 from $22.86m in the same period last year.

According to its financial statement, revenue grew in line with profits and rose 6.2% to $30.23m from $29.03m in the same period last year.

Its nine-property Australia portfolio and CWT Commodity Hub’s conversion from a master lease to a multi-tenancy lease structure led the increases in revenue, offset by lower contributions from the divestment of 40 Alps Ave and Jinshan Chemical Warehouse in China.

"The manager remains committed to proactive marketing, leasing and asset management to maintain high occupancy and optimise overall returns," Cache added.

Distributable income rose 1.2% to $16.33m, whilst distribution per unit (DPU) edged up 0.4% to $1.51 cents. DPU is payable on 29 May 2019.

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