Frasers Centrepoint Trust DPU rises 10% in Q4

FRASERS Centrepoint Trust (FCT) posted a distribution per unit (DPU) of 2.98 cents for the fourth quarter ended September, up 10 per cent from 2.71 cents a year ago.

This was on the back of a 10.1 per cent rise in distribution to shareholders to $24.6 million, from $22.3 million a year ago.

While gross revenue rose 3 per cent to $40.2 million, higher maintenance and other property expenses - including a 54.6 per cent jump in property tax to $3.9 million and a 22.1 per cent increase in maintenance expenses to $4.7 million - resulted in net property income (NPI) falling 5 per cent to $27.…