Frasers Centrepoint Trust's half-year DPU rises 28.4% to 5.996 Singapore cents

SINGAPORE (THE BUSINESS TIMES) - Frasers Centrepoint Trust's (FCT) distribution per unit (DPU) rose by 28.4 per cent to 5.996 Singapore cents for its half year ended March 31, from 4.67 cents last year.

Gross revenue was up 73.8 per cent to $173.6 million, from $99.9 million the previous year.

The half-year performance was boosted by the enlarged retail portfolio post acquisition of AsiaRetail Fund (ARF), the trust said in a regulatory filing on Friday (April 23).

Net property income grew 73.8 per cent on the year to $125.7 million for the half year, from $72.3 million.

Distributable income rose 42.3 per cent year on year to $101.1 million, from $71 million.

The distribution will be paid out on May 28, 2021, after books closure on May 3.

Mr Richard Ng, chief executive officer of Frasers Centrepoint Asset Management, the manager of FCT, said: "This is the first set of financial results following the completion of the acquisition of the remaining 63.11 per cent stake in ARF in October last year.

"Overall performance was boosted by the enlarged retail portfolio and FCT's financial position remains strong."