FCT’s H2 DPU edges up to S$0.06091; manager warns cost of debt could hit above 3% in FY2023

THE manager of Frasers Centrepoint Trust (FCT) said that its average cost of borrowing is expected to rise by at least 50 basis points to above 3 per cent in FY2023, which could put a dent in distribution per unit (DPU) growth next year.

FCT on Wednesday (Oct 26) reported a DPU of S$0.06091 for the second half of FY2022 ended September – just a whisker above the DPU of S$0.06089 in the corresponding period a year ago.

Distribution to unitholders for H2 edged up 0.2 per cent to S$103.8 million, despite a 7.9 per cent increase in gross revenue to S$180.7 million and a 6 per cent rise in net property income (NPI) to S$128.1 million.