Frasers Logistics & Industrial Trust NPI down 2.2% to $36.6m

The company recorded lower revenue and income despite high occupancy.

Frasers Logistics & Industrial Trust's (FLT) net property income (NPI) dropped 2.2% (2.1%) QoQ from $37.4m to $36.6m.

According to OCBC Investment Research, FLT's distribution per unit (DPU) stood still at 2 cents.

Gross revenue dropped by 1.7% (1.6%) from $44.2m to $43.5m QoQ for Q2.

Meanwhile, distributable income grew 4.7% from $27.2m to $27.4m.

"FLT’s portfolio occupancy remained high at 99.3%, with a long WALE of 6.7 years, as at 30 Jun 2017," OCBC head analyst Andy Wong Teck Ching said.
 

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