REIT Financial News - Q2 2010 Quarterly Earnings Report for Cache Logistics

Second quarter 2010 results for Cache Logistics:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• Distribution per unit (DPU) of 1.71 cents for the period 12 April 2010 to 30 June 2010.
• Annualised DPU of 7.81 cents exceeds forecast by 1.4%.
• Strong fundamentals and low gearing provide financial flexibility for future growth.
• On track to deliver forecast DPU for 2010.
• All six properties are 100% leased with high underlying occupancy at each premises.
• Conservative gearing level of 25.5%.

Author's Note

This is the first quarterly earnings report by the reit. The DPU available for distribution of 1.71 cents will not be paid out in the current quarter. The first distribution after the Listing Date will be for the period from Listing Date to 30 September 2010 and will be paid on or before 29 November 2010 as stated in the Prospectus dated 1 April 2010.

Note that the current distribution policy is to distribute 100% of its taxable income and tax-exempt income for the period from the Listing Date to 31 December 2011 and thereafter, to distribute at least 90% of its taxable and tax-exempt income.