REIT Financial News - Q2 2010 Quarterly Earnings Report for FCT

Second quarter 2010 results for Frasers Centrepoint Trust:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU for 2Q 2010 is 2.07 cents.
• The book closure date is Monday, 2 August 2010 and the distribution payment date is Friday, 27 August 2010.
• Record 3Q10 (1 April to 30 June 2010 period) income available for distribution of $16.3 million, which represents an increase of 35% from the same period last year.
• FCT’s 3Q10 gross revenue grew 45% y-on-y to $30.7 million, aided by contributions from Northpoint 2 and YewTee Point, and a strong recovery in Northpoint’s performance post completion of enhancement works. 
• Net property income similarly grew 46% y-on-y to $21.5 million. 
• FCT’s 3Q10 distribution per unit rose 7% y-on-y to 2.07¢, with $0.4 million of 3Q10 income being retained for distribution in the fourth quarter of FY2010.
• Portfolio occupancy was 99% as at 30 June 2010.

Author's Note
The quarterly DPU for 2Q 2010 of 2.07 cents will be paid on 27 Aug 2010, with the book closure date on 2 Aug 2010.

The DPU was 2.06 cents for the previous quarter.