Q3 2010 results for Cache Logistics:
Key Points
* DPU for the reporting quarter is 1.94 cents.
* DPU of 3.65 cents for the period 12 April 2010 to 30 September 2010.
* Annualised DPU of 7.75 cents exceeds forecast by 1.4%.
* Strong balance sheet with aggregate leverage of 23.4%.
* On track to deliver forecast DPU for 2010.
* Annualised Distribution Yield of 7.8% based on 27 Oct 2010 closing price of S$0.99.
* The Cache portfolio was valued by Knight Frank on 30 September 2010 at S$741.2 million compared to the S$729.9 million recorded on 31 October 2009.
* The six properties that make up the Cache portfolio are 100% leased under the Master Lease Agreements.
* Excluding income available for distribution, adjusted NAV per unit is S$0.88.
* Cache will pay out a maiden distribution of 3.65 cents per unit for the period 12 April 2010 to 30 September 2010.
* The Books will close from 5pm on 8 November 2010 for the purpose of determining Unitholders’ entitlement to the distribution.
* The distribution will be paid to unitholders on 29 November 2010.