Gross revenue for the 2HFY2024 fell by 2.5% y-o-y to $179.5 million while net property income (NPI) fell by 0.6% y-o-y to $128.8 million. FY2024 gross revenue and NPI also fell by 4.9% y-o-y and 4.6% y-o-y to $351.7 million and $253.4 million. The declines for the six- and 12-month periods were due to the absence of contributions from Changi City Point and lower contributions from Tampines 1. Changi City Point was divested in October 2023 while Tampines 1 underwent asset enhancement initiative (AEI) works.
Frasers Centrepoint Trust (FCT) has reported a distribution per unit (DPU) of 6.02 cents for the 2HFY2024 ended Sept 30, unchanged y-o-y. This brings the REIT’s FY2024 DPU to 12.042 cents, 0.9% lower y-o-y.
While 2HFY2024 distributions to unitholders rose by 6.2% y-o-y to $109.4 million, this was spread across a higher unit base of 1.81 billion as at Sept 30 compared to 1.71 billion units as at Sept 30, 2023.
