Frasers Commercial Trust’s Q2 DPU up 78% to 0.32 cents

Frasers Commercial Trust (FCOT) announced a second quarter distribution per unit (DPU) of 0.32 Singapore cents for the period ended March 31.

That is 78 per cent higher from the 0.18 cents in the same quarter last year.

The growth came on the back of a 167 per cent increase in total distributable income to S$14.5 million from S$5.42 million from the second quarter last year.

However, distributable income to unitholders rose to S$9.84 million, an 82 per cent increase from a year ago.

Frasers Centrepoint Asset Management’s CEO Low Chee Wah said efforts to complete the recapitalisation and refinance of FCOT have translated into improved distribution earnings for this year.

“DPU has increased for the past two successive quarters since the completion of the recapitalisation exercise in August last year,” said Low.

Source : Channel NewsAsia – 22 Apr 2010

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