FLT's NPI up 4.7% to $33.81m in Q4

Its aggressive pursuit of acquisitions boosted its financials.

Frasers Logistics & Industrial Trust's (FLT) net property income (NPI) rose by 4.7% YoY to $33.81m (A$32.3m) in Q4.

According to its financial statement, its distribution per unit (DPU) also broke FLT's initial public offering (IPO) forecast by 8.6% as it hit 1.77 cents.

Gross revenue rose 4.8% YoY to $44.17m (A$42.2m).

OCBC analyst Andy Wong Teck Ching said, "This was largely driven by inorganic growth as management had actively pursued acquisitions since its listing."

From its listing on 20 June 2016 to 30 September 2017, DPU also beat the IPO forecast by 6.1% as it hit 8.85 cents.

FLT maintained portfolio occupancy of 99.4% with a weighted average lease expiry (WALE) of 6.75 years.