114 views

Frasers Centrepoint Trust net income rises 3.8% to $130.48m

The increase drove the company's distributable income higher in 1H2022.

Frasers Centrepoint Trust's (FCT) net property income (NPI) rose 3.8% YoY to $130.48m in the first half of the financial year 2022 which ended on 31 March.

The company's manager said the income growth was due to the decrease in property expenses which arose from a lower net allowance for doubtful debts and other property expenses. 

With the improved NPI, FCT's distributable income also rose by 3.3% YoY to $104.41m, translating to a 2.3% higher distribution per unit (DPU) of $0.06136.

Looking ahead, FCT's manager said the company expects better operating performance in its retail portfolio amidst the easing of safe management measures (SMMs).

In 1H22, the company's retail portfolio registered a 1.2 percentage-point improvement in NPI margin to 74.9% through cost management, proactive leasing and marketing. 

In the same period, a positive rental reversion of 1.73% was also achieved on an incoming versus outgoing basis for 14.4% of the retail portfolio’s total net lettable area.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!