Frasers Centrepoint Trust Q2 DPU remains steady at 3.04 Singapore cents

FRASERS Centrepoint Trust reported a distribution per unit (DPU) of 3.04 Singapore cents for the second quarter of its 2017 financial year, unchanged from a year ago, its manager said in a Singapore Exchange filing on Tuesday.

For the first three months of 2017, its gross revenue was S$45.7 million, down 2.9 per cent year-on-year, mainly due to lower contribution from Northpoint which is undergoing asset enhancement initiative works, but was partially offset by higher contributions from other properties.

Net property income for Q2 2017 fell 3.3 per cent year-on-year to S$32.6 million. Higher net property income from Causeway Point and Changi City Point helped to mitigate lower contributions from other properties in the portfolio.

The gearing level stood at 29.4 per cent and the weighted average debt maturity was 2.4 years.