FLCT’s DPU rose by 1.3% in H1

It went up to 3.85 cents from 3.80 cents.

Frasers Logistics & Commercial Trust (FLCT), reported an increase in its distribution per unit (DPU) for the first half (H1) of the financial year (FY) 2022 by 1.3% to 3.85 cents from 3.80 cents, the firm’s manager disclosed.

The distributions, which will be paid on 17 June 2022, are made on a semi-annual basis for the six-month ending 31 March and 30 September.

Further, the firm’s revenue was at $235.7m whilst an adjusted net property income of $180.1m for H1 FY2022. It represented an increase of 1.7% and 3.6% respectively, from $231.7m and $173.9m in the corresponding financial period.

It attributed its increases to the full six months income contribution from acquisitions made in the financial year ended 30 September 2021, and the early surrender fee received in H1 FY 2022.

FLCT also retained its high portfolio occupancy rate of 96.1%, as of March 2022, with 35,247 square metres of leasing completed for the period from January to March 2022.