Frasers Centrepoint Trust announces full-year DPU of 8.2 cents

Frasers Centrepoint Trust (FCT) has announced its full-year distribution per unit (DPU) of 8.2 cents.

That’s 9.2 per cent higher than the DPU of 7.51 cents achieved in the previous financial year.

Distributable income for the year ended September 30 rose 26.1 per cent to S$59.1 million.

Net property income jumped 33.7 per cent to S$80 million.

FCT said the increase in revenue was boosted by the acquisitions of Northpoint 2 and YewTee Point, and the successful revamp of Northpoint 1.

Portfolio occupancy remained high at 98.1 per cent at the end of last month. That’s despite the ongoing refurbishment of Causeway Point.

FCT said the refurbishment is proceeding smoothly and retailers have shown keen interest by pre-committing 87 per cent of the space on level one.

Source : Channel NewsAsia – 26 Oct 2010

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