SINGAPORE (Apr 23): The manager of Frasers Centrepoint Trust (FCT) has announced distribution per unit (DPU) of 1.61 cents for 2QFY2020 ended March, some 48.7% lower than DPU of 3.14 cents in the same quarter last year.

The decline was mainly attributable to an enlarged unit base, as well as the retention of 50% of its distributable income to preserve financial flexibility during the Covid-19 pandemic.

Gross revenue for 2QFY2020 was up slightly at 0.9% to $50.2 million compared to last year’s $49.7 million. The growth was led by increase in gross rent from renewals, and step-up rents from existing leases. This was partially offset by lower turnover rent due to tenants’ sales, lower carpark income due to complimentary parking and expiry of car park management contract, and no rental atrium income from February this year.

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