REIT AsiaPac

Sign up for our FREE news and magazine on Asia Pacific REITs

Frasers Logistics & Commercial Trust H2 DPU Up 6.3%

November 11, 2021 – Frasers Logistics & Commercial Trust announced that tis distribution per unit (DPU) for the first half of the financial year 2021 ended September 30 hit 3.88 Singapore cents, up 6.3% from the 3.65 Singapore cents in the same period last year.

FLCT recorded a revenue of S$237.6 million (US$1755.38 million) and Adjusted Net Property Income of S$181.3 million (US$133.82 million) for H2 2021, marking an increase of 11.4% and 12.3% respectively, from S$213.3 million (US$157.44 million) and S$161.4 million (US$119 million) in the previous corresponding financial period.

The REIT said this is mainly attributable to acquisitions undertaken in FY2020 and FY2021, which was partially offset by divestment activities during the same period, and rental waivers attributable to the COVID-19 pandemic.

Accordingly, distributable income rose 11.8% to S$139.6 million (US$103.04 million) for H2 2021, compared to S$124.9 million (US$92.19 million) recorded in H2 2020.

The DPU for H2 2021 was 3.88 Singapore cents, up 6.3% from 3.65 Singapore cents in H2 2020, representing a full payout of FLCT’s 2H2021 distributable income. In addition to the DPU of 3.80 Singapore cents reported for H1 2021, FLCT’s total distribution for FY2021 amounts to 7.68 Singapore cents, up 7.9% from 7.12 Singapore cents a year ago.

Mr. Robert Wallace, Chief Executive Officer of the REIT Manager, said, “FLCT achieved several milestones during the year, with our inclusion as a constituent stock in the benchmark Straits Times Index in April 2021, our maiden entry into the UK logistics sector and steady progress on the sustainability financing front through the issuance of our maiden sustainability notes in July 2021.”

“Backed by the strengths of our attractive portfolio and our global customer network, FLCT is well-positioned to capitalise on strong logistics industry tailwinds and continue to seek further exposure to attractive growth sectors.”

Read more here..

Related News

Frasers Logistics & Commercial Trust Prices First Ever Sustainability Notes in the Singapore Bond Market