Cache Logistics Trust Announces Unaudited Group and Trust Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
For the year, on group basis, the company reported gross revenue of SGD 89,721,000 against SGD 82,852,000 a year ago. Net property income was SGD 76,156,000 against SGD 78,000,000 a year ago. Net income was SGD 52,995,000 against SGD 57,118,000 a year ago. Total loss for the period before taxation and distribution was SGD 11,719,000 against total return for the period before taxation and distribution of SGD 66,084,000 a year ago. Total loss for the period after taxation before distribution was SGD 12,323,000 against total return for the period after taxation before distribution of SGD 65,809,000 a year ago. Net cash from operating activities was SGD 18,746,000 against SGD 17,671,000 a year ago. Capital expenditure on investment properties was SGD 20,756,000 against SGD 34,576,000 a year ago. Purchase of plant and equipment was SGD 527,000 against SGD 643,000 a year ago. Cash generated from operating activities was SGD 52,372,000 against SGD 47,136,000 a year ago. Net cash outflow on purchase of and additions to investment properties including payment of deferred considerations was SGD 30,099,000 against SGD 78,918,000 a year ago. Loss per unit for the period based on the weighted average number of units in issue was 1.544 cents against earnings per unit for the period based on the weighted average number of units in issue of 8.447 cents a year ago. Adjusted earnings per unit for the period based on the weighted average number of units in issue was 6.566 cents against 7.296 cents a year ago. The decrease in net property income is mainly due to marginal decline in occupancy rates, land rent, property tax, property maintenance expenses, lease commissions and other property-related expenses as some master leases were converted to multi-tenanted leases, offset by rental income from the Australian properties.
For the quarter, on trust basis, the company reported gross revenue of SGD 21,377,000 against SGD 20,305,000 a year ago. Net property income was SGD 16,760,000 against SGD 19,101,000 a year ago. Net income was SGD 11,797,000 against SGD 12,660,000 a year ago. Total loss for the period before taxation and distribution was SGD 40,712,000 against total return for the period before taxation and distribution of SGD 21,573,000 a year ago. Total loss for the period after taxation before distribution was SGD 40,935,000 against total return for the period after taxation before distribution of SGD 21,573,000 a year ago.
For the year, on trust basis, the company reported gross revenue of SGD 82,671,000 against SGD 81,677,000 a year ago. Net property income was SGD 69,547,000 against SGD 76,916,000 a year ago. Net income was SGD 52,243,000 against SGD 56,706,000 a year ago. Total loss for the period before taxation and distribution was SGD 266,000 against total return for the period before taxation and distribution of SGD 65,619,000 a year ago. Total loss for the period after taxation before distribution was SGD 766,000 against total return for the period after taxation before distribution of SGD 65,619,000 a year ago.