Frasers Logistics & Industrial Trust's Q3 DPU at 1.75 cents, beating forecasts

FRASERS Logistics & Industrial Trust (FLT) on Friday posted a set of financial results that exceeded its forecasts at its initial public offering (IPO).

For the quarter ended June 30, 2017, its distribution per unit (DPU) was 1.75 Singapore cent, beating the forecast of 1.64 Singapore cent in its listing prospectus, the group said in a Singapore Exchange filing on Friday evening.

That came as income available for distribution beat forecasts by 5.8 per cent to A$25 million.

For the three months, gross revenue missed forecasts by 0.2 per cent at A$40.2 million, while net property income was 0.1 per cent higher than forecast at A$33.8 million.

FLT units finished S$0.015 or 1.4 per cent higher at S$1.11 on Friday.