Higher Q3 payout at Frasers Centrepoint Trust on revenue growth

HIGHER contributions from the Causeway Point and Northpoint malls boosted the third quarter payout at Frasers Centrepoint Trust (FCT).

Distributable income for the three months to June 30 was $23.1 million, a 14.2 per cent jump from the same period last year.

Distribution per unit (DPU) was 2.85 cents, 9.6 per cent higher than the 2.60 cents distributed in the third quarter last year.

Net property income rose 15.4 per cent to $28.5 million.

Gross revenue grew 12.4 per cent on the previous year to a new high of $39.97 million, on the back of strong revenue growth from recently-refurbished Causeway Point.