FLCT posts $0.03 DPU for 1HFY25

It also reported an adjusted net property income of $161.3m for the period.

Frasers Logistics & Commercial Asset Management Pte. Ltd., the manager of Frasers Logistics & Commercial Trust (FLCT), has announced a lower distribution per unit (DPU) of $0.03 for the six-month period ended 31 March 2025 (1HFY25).

FLCT reported revenue of $232.3m and adjusted net property income of $161.3m for 1HFY25, representing increases of 7.5% and 1.6% respectively from the same period last year.

The increase was driven by full contributions from Ellesmere Port, completed in December 2023; the acquisition of four German logistics properties in March 2024; the Maastricht Property in the Netherlands, completed in October 2024; and 2 Tuas South Link 1 in Singapore, acquired in November 2024.

These gains were partially offset by higher vacancies at Alexandra Technopark and 357 Collins Street, higher non-recoverable land taxes in Australia, and lower average AUD and EUR exchange rates against the SGD.

Higher interest rates and additional borrowings to fund developments and acquisitions led to increased finance costs.

Distributable income fell to $113m, down from $130.7m a year ago, with 56.9% of management fees paid in cash.

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Frasers Logistics & Commercial Trust

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