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Frasers Commercial Trust posts 4.4% lower 1Q DPU of 2.4 cents on lower income from properties

Michelle Zhu
Michelle Zhu1/23/2018 07:22 AM GMT+08  • 2 min read
Frasers Commercial Trust posts 4.4% lower 1Q DPU of 2.4 cents on lower income from properties
SINGAPORE (Jan 23): The manager of Frasers Commercial Trust (FCOT) has declared a distribution per unit (DPU) of 2.4 cents for 1Q18, a 4.4% decline from 2.51 cents in the preceding year on lower revenue.
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SINGAPORE (Jan 23): The manager of Frasers Commercial Trust (FCOT) has declared a distribution per unit (DPU) of 2.4 cents for 1Q18, a 4.4% decline from 2.51 cents in the preceding year on lower revenue.

Gross revenue for the quarter fell 11% to $35.3 million from $39.7 million a year ago on lower income across all six properties in the trust’s portfolio, led mainly by lower contributions from China Square Central, Alexandra Technopark and Central Park.

Net property income (NPI) for the quarter was $24.9 million, down 15% from a year ago due to lower income contribution from Alexandra Technopark, China Square Central, Central Park and 55 Market Street on the back of lower occupancy rates.

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