Cache Logistics Trust announced unaudited group and trust earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, on group basis, the company reported gross revenue of SGD 27,266,000 against SGD 24,028,000 a year ago. Net property income was SGD 21,340,000 against SGD 19,177,000 a year ago. Net income was SGD 13,299,000 against SGD 11,527,000 a year ago. Total loss for the period before taxation and distribution was SGD 31,345,000 against SGD 53,187,000 a year ago. Total loss for the period after taxation before distribution was SGD 31,596,000 against total return for the period after taxation before distribution of SGD 53,406,000 a year ago. Net cash from operating activities was SGD 20,050,000 against SGD 18,746,000 a year ago. Capital expenditure on investment properties was SGD 3,642,000 against SGD 20,756,000 a year ago. Purchase of plant and equipment was SGD 263,000 against SGD 527,000 a year ago. Loss per unit for the period based on the weighted average number of units in issue was 3.52 cents against 6.34 cents a year ago. Adjusted earnings per unit for the period based on the weighted average number of units in issue was 1.45 cents against 1.34 cents a year ago.

For the full year, on group basis, the company reported gross revenue of SGD 111,271,000 against SGD 89,721,000 a year ago. Net property income was SGD 88,014,000 against SGD 76,156,000 a year ago. Net income was SGD 57,556,000 against SGD 52,995,000 a year ago. Total loss for the period before taxation and distribution was SGD 23,188,000 against total return for the period before taxation and distribution of SGD 11,719,000 a year ago. Total loss for the period after taxation before distribution was SGD 23,970,000 against total return for the period after taxation before distribution of SGD 12,323,000 a year ago. Net cash from operating activities was SGD 81,296,000 against SGD 75,108,000 a year ago. Capital expenditure on investment properties was SGD 6,034,000 against SGD 88,040,000 a year ago. Purchase of plant and equipment was SGD 1,173,000 against SGD 1,879,000 a year ago.

Loss per unit for the period based on the weighted average number of units in issue was 2.68 cents against earnings per unit for the period based on the weighted of 1.54 cents a year ago. Adjusted average number of units in issue was 6.34 cents against 6.57 cents a year ago. The increase in gross revenue for the quarter and full year ended 31 December 2016 was mainly due to the rental contribution from DHL Supply Chain Advanced Regional Centre (DSC ARC) and the additional 3 Australian properties acquired in fourth quarter of 2015; offset by a lower income from 51 Alps Avenue, Singapore.

For the quarter, on trust basis, the company reported gross revenue of SGD 23,097,000 against SGD 21,377,000 a year ago. Net property income was SGD 17,744,000 against SGD 16,760,000 a year ago. Net income was SGD 12,802,000 against SGD 11,797,000 a year ago. Total loss for the period before taxation and distribution was SGD 39,078,000 against of SGD 40,712,000 a year ago. Total loss for the period after taxation before distribution was SGD 39,230,000 against of SGD 40,935,000 a year ago.

For the year, on trust basis, the company reported gross revenue of SGD 94,735,000 against SGD 82,671,000 a year ago. Net property income was SGD 73,670,000 against SGD 69,547,000 a year ago. Net income was SGD 56,120,000 against SGD 52,243,000 a year ago. Total loss for the period before taxation and distribution was SGD 31,860,000 against of SGD 266,000 a year ago. Total loss for the period after taxation before distribution was SGD 32,425,000 against of SGD 766,000 a year ago.

For the quarter, the trust company reported impairment loss of SGD 4,800,000.