Its FY2022 distributable income increased by 4.3% y-o-y, while revenues and net property income declined by 4.1% and 3.7% y-o-y respectively. This is due to the Cross Street Exchange divestment, partly offset by acquisitions in Australia and the UK.
DBS Group Research analysts Dale Lai and Derek Tan have kept their “buy” call on Frasers Logistics and Commercial Trust (FLCT) following its 2HFY2022 ended September results announcement.
FLCT’s FY2022 DPU of 7.62 cents came slightly below the analysts' projections. This is mainly due to weaker foreign currencies against Singapore dollar as well as slower-than-expected pace of acquisition following the divestment of Cross Street Exchange.
