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Frasers Logistics & Industrial Trust declares DPU of 1.84 cents for June 20 to Sept 30, 2.8% higher than forecast

PC Lee
PC Lee11/2/2016 07:23 AM GMT+08  • 2 min read
Frasers Logistics & Industrial Trust declares DPU of 1.84 cents for June 20 to Sept 30, 2.8% higher than forecast
SINGAPORE (Nov 2): The manager of newly-listed Frasers Logistics & Industrial Trust (FLT) declared a distribution per unit (DPU) of 1.84 cents for the period June 20 to Sept 30, 2.8% higher than the 1.79 cents forecast.
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SINGAPORE (Nov 2): The manager of newly-listed Frasers Logistics & Industrial Trust (FLT) declared a distribution per unit (DPU) of 1.84 cents for the period June 20 to Sept 30, 2.8% higher than the 1.79 cents forecast.

During the financial period under review, FLT’s gross revenue exceeded its forecast of A$42.7 million ($45.4 million) by 0.8% mainly due to the leasing of a vacant tenancy at Lot 5 Kangaroo Avenue from April 2016; and the acquisition of two call option properties, namely, the Indian Drive and Pearson Road properties on 31 August 2016, one month ahead of forecast.

Actual Net Property Income excluding straight lining rental adjustments at A$32.7 million was in line with the forecast, despite a 10.4% increase in actual property operating expenses to A$7.4 million, which was due mainly to one-off repairs and maintenance costs in relation to leasing activities.

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