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Q4 boost lifts Frasers Commercial Trust's FY DPU to record high

Friday, October 23, 2015 - 09:34
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A jump in income from Alexandra Technopark and a maiden contribution from an Australian property helped to boost distribution in the fourth quarter for Frasers Commercial Trust.

A JUMP in income from Alexandra Technopark and a maiden contribution from an Australian property helped to boost distribution in the fourth quarter for Frasers Commercial Trust.

The trust posted a distribution per unit (DPU) of 2.52 Singapore cents for the three months ended Sept 30, 2015, or 14 per cent higher than the previous year.

This lifted the full-year DPU to 9.71 Singapore cents, up 14.1 per cent year-on-year, which the trust said was an all-time high.

For the fourth quarter, distribution income jumped 25.6 per cent year-on-year to S$18.82 million on the back of a 15 per cent climb in net property income to S$27.39 million. Gross revenue also rose 16.9 per cent to S$37.22 million from the previous year.

The master lease for Alexandra Technopark expired in August 2014. The completion of the acquisition of 357 Collins Street in Melbourne on Aug 18 this year also gave a boost to income, the trust said in a statement.