DBS lowers FY2025 DPU forecast for FLCT with distribution cut

The DPU forecast was lowered by 10%.

DBS has lowered its FY2025 distribution per unit (DPU) forecast for Frasers Logistics & Commercial Trust (FLCT) by 10% to $0.0110 from $0.0130 previously.

This adjustment follows DBS’ forecast of FLCT’s cessation of capital gains distribution for FY2025 which was previously estimated at $20m.

In addition, DBS adjusted the proportion of manager’s fees paid in cash to 30% and pegged foreign currencies (AUD, EUR, GBP) to current spot rates to account for recent FX movements.

“Despite this revision, FLCT could still deliver upside surprises to earnings if capital gains distributions occur, providing a short-term boost to DPU, or if FLCT executes accretive acquisitions to offset the absence of capital gains distribution, potentially mitigating the downward pressure on earnings,” DBS said.

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Frasers Logistics & Commercial Trust

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