SINGAPORE (April 27): The manager of Frasers Logistics & Industrial Trust (FLT) has reported a 2Q distribution per unit (DPU) of 1.76 cents, down 2.8% on-year from 1.81 cents in 2Q18 due to the softening of the AUD and EUR against the SGD.
In AUD terms, DPU grew 7.1% to 1.82 Australian cents in 2Q19 from 1.70 Australian cents on higher revenue and adjusted net property income (NPI) after taking into account acquisitions from FY18.
Revenue for the quarter grew 36.9% to A$59.7 million from A$43.6 million in 2Q18, while adjusted NPI was up 43.3% to A$47.9 million from A$33.4 million in the previous year.
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