Frasers Logistics and Commercial Trust (FLCT) reported a 6.3% rise in DPU to S$0.0388 for its H2 ended September 30. Gross revenues grew 11.4% to S$237.6mn ($175.3mn) on the back of acquisitions in FY2020 and FY2021 but partially offset by divestment activities, as per the company. Net property income grew by 12.3% to S$181.3mn ($133.8mn) and distributable income grew by 11.8% to S$139.6mn ($103mn). DPU for the full year stood at S$0.0768 vs. S$0.0712 the prior year. FLCT’s portfolio occupancy was 96.2% with a weighted average lease expiry of 4.8Y. Its portfolio value increased to S$7.3bn ($5.4bn), up S$1.1bn YoY after the acquisition of 6 freehold properties in Germany, the Netherlands and the UK and a S$603.9mn ($445.6mn) growth in its investment properties.
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