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Frasers Logistics & Commercial Trust Net Income Down, DPU Unchanged

FLCT reported revenue of S$214.5 million and Adjusted Net Property Income of S$162.1 million for the six month period ended September 30, 2022 (2HFY22), representing decreases of 9.7% and 10.6% respectively, from S$237.6 million and S$181.3 million in the corresponding financial period.

The year-on-year decreases were mainly due to the sale of Cross Street Exchange on March 31 2022 and weaker exchange rates over the period, which were partially offset by contributions from the acquisitions made in FY2021 and FY2022. Distributable income for 2HFY22 was S$139.6 million, largely unchanged from a year ago. Read more here.