Not yet time to clear your Cache

SINGAPORE (July 21): Religare Institutional Research has maintained a buy recommendation for Cache Logistics Trust, after it posted a 30.3% revenue growth to $28.1 million, and distribution per unit of 1.99 cents for 2QFY2016 to June.

Religare’s Pang Ti Wee noted the trust’s quarterly revenue and DPU achieved 25% and 24% of his full year estimates, and has maintained his target price of 95 cents.

Cache’s revenue growth had been driven by the new contributions from its Australian acquisitions in FY2015, as well as the DHL Supply Chain Advanced Regional Centre which received its temporary occupation permit last July. Occupancy increased 1.6 percentage points quarter on quarter to 95.8%.

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