The manager of Frasers Logistics & Commercial Trust (FLCT) has reported distribution per unit (DPU) of 3.65 cents for the 2HFY2020 ended September, up 5.5% from DPU of 3.46 cents a year ago.

This brings the REIT’s FY2020 DPU to 7.12 cents, up 1.7% from the 7.00 cents declared in FY2019.

Revenue for 2HFY2020 spiked 94.6% y-o-y to $213.3 million, making this a “record” for the REIT. The y-o-y increase was primarily contributed by the merger between Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) in April 2020, the acquisition of German properties from its sponsor in July 2019, as well as other acquisitions made in FY2020 and FY2019.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook