SINGAPORE (Nov 6): The manager of Frasers Logistics and Industrial Trust (FLT) reported a distribution per unit (DPU) of 1.73 cents in Singdollar terms for the 4Q19 ended Sept, down 2.8% from 1.78 cents a year ago.
In Australian-dollar terms, 4Q19 DPU rose 2.2% to 1.82 Australian cents from 1.78 Australian cents a year ago.
Unitholders of FLT can choose to be paid in either currency.
In 4Q19, revenue was up 1.9% to A$61.6 million ($57.7 million) from A$60.4 million in 4Q18, while adjusted net property income (NPI) grew 1.9% to A$50.2 million from A$49.3 million a year ago.
FLT’s manager says the increase was backed by contributions from its acquisitions in Europe and Australia and were partially offset by divestment activities in Australia.
Distributable income rose 9.3% to A$39.3 million from A$36 million a year ago.
For the 2H19 period from April 1 to Sept 30, FLT’s total DPU came in at 3.46 cents.
This comprised a distribution of 1.01 cents per unit for the period from Aug 8 to Sept 30, which will be paid out on Dec 16, as well as an advanced distribution of 2.45 cents per unit for the period from April 1 to Aug 7, which was paid on Nov 1.
For FY19 ended Sept, DPU was up 4.8% to 7.27 Australian cents from a year ago, but down 2.6% at 7 cents in Singdollar terms.
Revenue rose 23% to A$240.8 million while adjusted NPI rose 26.1% higher at A$195.9 million.
As at 3.18pm, units in FLT were trading flat at $1.25.
