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Fraser Commercial Trust's net property income ticks up 4.2% to $30m

Singapore Business Review logo Singapore Business Review 21/4/2017 Staff Reporter
© Provided by Singapore Business Review

Thanks to its stronger Australian portfolio.

Frasers Commercial Trust announced a good set of figures for the quarter ending in March, with net property income growing 4.1% to $30m.

This followed the 3.2% growth in gross revenue to $40.2m. Frasers' DPU was up 2.4% to 2.51 S cents. The strong results are due to its robust Australian portfolio.

However, OCBC Investment Research noted that the group's committed occupancy slipped 1.2 ppt QoQ to 91.8%, as higher occupancy in Australia was offset by increased vacancies in Singapore.

Meanwhile, it has achieved an average positive rental reversions of 3.6% in the said quarter.

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