Frasers Commercial Trust's Q3 DPU dips

A STRONGER performance by its Australian portfolio due to the stronger Australian dollar gave a lift to results for commercial landlord Frasers Commercial Trust (FCOT) in its third quarter.

But distribution per unit (DPU) dipped to 2.4 Singapore cents from 2.41 Singapore cents in the preceding year, as the higher distributable income was offset by the increase in number of units from a year ago, the group said in a Singapore Exchange filing on Monday evening.

That came even as Q3 income available for distribution edged up 0.9 per cent to S$19.2 million from the previous year.

For the three months ended June 30, gross revenue slipped 0.6 per cent to S$38.3 million from the year-ago period. Net property income slipped 0.8 per cent to S$27.9 million from the preceding year.

FCOT's portfolio includes commercial properties in Australia and Singapore. The slide in gross revenue was due mainly to lower occupancy rates at Alexandra Technopark, China Square Central and Central Park, it said.

FCOT units finished S$0.005 or 0.35 per cent down at S$1.425 on Monday.