Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Wed, 21 Aug 2019, 9:28 AM

 

Cache Logistics Trust: 2Q19 Results Missed Expectations

Author:   |    Publish date:


Cache Logistics Trust (CACHE) posted results that were below expectations. 2Q19 gross revenue decreased 7.4% YoY to S$27.8m, mainly due to the 1) the conversion from a master lease to a multitenancy lease structure at Precise Two, 2) absence of contribution from 40 Alps Ave and Jinshan Chemical Warehouse, and 3) transitory downtime between replacement tenants at Commodity Hub. This was partially offset by the contribution from an Australian warehouse acquired in Apr 2019.

2Q19 DPU dropped 6.9% YoY to 1.321 S cents, which we consider to be below expectations. The drop in DPU was mainly due to lower NPI and a one-off reversal of professional fees associated with the 51 Alps Ave’s legal proceedings in 2Q18.

We maintain HOLD but place our fair value of S$0.74 under review.

Source: OCBC Research - 25 Jul 2019

Share this

Related Stocks

Chart Stock Name Last Change Volume 
Cache Log Trust 0.725 -0.005 (0.68%) 379 

  Be the first to like this.
 


 

104  153  175  670 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 LionGold 0.0010.00 
 Rex Intl 0.083+0.007 
 YZJ Shipbldg SGD 0.915-0.015 
 ThaiBev 0.935+0.005 
 Mapletree NAC Tr 1.31-0.03 
 SingTel 3.25+0.01 
 TEE Intl 0.062-0.004 
 CapitaMall Trust 2.64+0.02 
 HPH Trust USD 0.167-0.01 
 SPH 2.04-0.09 
Partners & Brokers