Frasers Centrepoint Trust's profit soars 13.7% to S$28.7m

DPU reached record-high at 2.71 S cents.

According to OCBC, Frasers Centrepoint Trust (FCT) released its 4QFY12 results this morning.

Here's more from OCBC:

NPI grew by 13.7% YoY to S$28.7m, while distributable amount rose 21.8% to S$22.3m. DPU also reached its record high at 2.71 S cents (+15.3% YoY) and was spot on with our 4Q DPU forecast.

This brings the FY12 DPU to 10.01 S cents, up 20.3%. Expectedly, the strong performance was driven by Causeway Point following the substantial completion of the mall’s refurbishment and full-year contribution from Bedok Point.

Positive rental reversion of 8.9% on leases renewed was also achieved during the quarter. As at 30 Sep, FCT’s portfolio occupancy was maintained at 93.6% (93.7% in 3Q).

NAV increased 8.5% YoY to S$1.53 per unit, driven mainly by an enlarged asset base and revaluation gain of S$100.7m.

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