Frasers Centrepoint Trust's DPU up 0.5% at 3.036 cents

Frasers Centrepoint Trust (FCT) on Wednesday posted a 0.5 per cent increase in distribution per unit (DPU) to 3.036 Singapore cents for its third quarter ended June 30, 2015. It paid out 3.022 cents a year ago.

The books closure date is July 30, 2015; the payment date is Aug 28, 2015.

Gross revenue for the quarter rose 14.3 per cent year on year to S$47.1 million and net property income rose 12.8 per cent to S$32.9 million.

This was attributed to the addition of Changi City Point to FCT's portfolio since June 16, 2014, and higher rental income from step-up rents of existing leases and higher rentals achieved for new and renewed leases, the trust said.

Distributable income for the quarter came to S$26.9 million, 15 per cent higher than for the same period a year ago.

Units of the trust lost one cent to S$2.06 on the stock market before its results were released.