FCT – BT

Frasers plans record DPU as Q2 gain soars

FRASERS Centrepoint Trust (FCT) is paying its highest ever distribution per unit (DPU) after second-quarter earnings beat forecasts on the back of additional revenue from Bedok Point and refurbished Causeway Point malls.

"We have achieved another quarter of strong growth," Frasers chief executive Chew Tuan Chiong said in a statement.

"The asset enhancement of Causeway Point and the acquisition of Bedok Point are delivering sustainable income growth that helps drive higher DPU for our unitholders. FCT is also benefiting from higher rental rates achieved from new and renewed leases. We expect these positive factors to sustain FCT's performance through the second half of this year."

Frasers, a retail real estate investment trust (Reit), reported net income of $18.8 million in the second fiscal quarter ended March, up 46.2 per cent from the year-ago period.