Frasers Centrepoint Trust H2 DPU falls 1.2% to 6.02 cents
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The mall landlord's gross revenue was up 1.8 per cent to $184.1 million for the half-year period.
PHOTO: FRASERS CENTREPOINT TRUST
Vivienne Tay
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SINGAPORE – Frasers Centrepoint Trust’s (FCT) distribution per unit (DPU) for the second half ended Sept 30 declined by 1.2 per cent to 6.02 cents, from 6.091 cents in the same period in 2022, its manager said on Wednesday.
This came as distributions to unit holders dipped 0.7 per cent year on year to $103.1 million from $103.8 million.
FCT retained $1.1 million of the income available for distribution to unit holders, but also released $3 million of distributable income retained in the first half of 2023, the trust manager said.
The real estate investment trust booked gains in both gross revenue and net property income.
Gross revenue was up 1.8 per cent to $184.1 million for the half-year period, from $180.7 million in the year-ago period. This was mainly due to an increase in gross rent, attributed to a rise in portfolio occupancy, higher rental reversions and higher contributions from atrium leasing, as well as carpark income.
The gains were partially offset by the lower gross revenue at Tampines 1, which is undergoing an asset enhancement initiative.
Net property income (NPI) grew 1.1 per cent on the year to $129.6 million for the half-year period, from $128.1 million.
Meanwhile, for the full year ended Sept 30, DPU was 0.6 per cent lower at 12.15 cents versus 12.227 cents the previous year, and distributable income inched up 0.2 per cent to $207.7 million.
Gross revenue was 3.6 per cent higher at $369.7 million, while NPI rose 2.7 per cent to $265.6 million for the full year.
Distributions will be paid out on Nov 29 after books closure on Nov 3.
FCT units closed 0.5 per cent lower at $2.11 on Wednesday. THE BUSINESS TIMES
