First REIT Trust’s DPU down 4.8% YoY in FY2024

The total distributable amount fell by 4.1% YoY.

First REIT Trust’s distribution per unit (DPU) dropped by 4.8% year-on-year (YoY) to $0.0236 in FY2024.

The total distributable amount fell by 4.1% YoY to $49.3m from $51.4m in FY2023. In Q4 2024, the DPU remained unchanged at $0.058 from the previous quarter.

Rental and other income dropped 5.9% to $102.2m from $108.6m a year ago. Net property and other income also fell by 6.5% YoY to $98.5m from $105.3m in FY2023.

The decline was mainly due to the Japanese yen and Indonesian rupiah depreciation against the Singapore dollar, partially offset by higher rental income in local currency terms from Indonesia and Singapore properties.

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