FCT Q3 2010 Quarterly Earnings Report

Q3 2010 results for FCT:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU for the reporting quarter is 2.16 cents. 
• FY2010 gross revenue grew 32% y-on-y to a record high of $114.7 million. Gross revenue was boosted by the accretive acquisitions of Northpoint 2 and YewTee Point, and the successful revamp of Northpoint 1.
• Portfolio occupancy level remained high at 98.1% as at 30 September 2010, in spite of the on-going refurbishment of Causeway Point.
• Total assets grew 30% y-on-y to $1,516 million as at 30 September 2010, driven largely by new acquisitions. 
• FCT recognised revaluation surplus of $42.5 million in FY2010, with all properties recording higher valuations.
• Gearing ratio was 30.3% as at 30 September 2010.
• NAV per unit was $1.293 as at 30 September 2010.
• The Books will close from 5pm on 1 November 2010 for the purpose of determining Unitholders’ entitlement to the distribution. 
• The distribution will be paid on 29 November 2010. 

Author's Note
The DPU of 2.16 cents will be paid on 29 Nov 2010. Books closure is on 1 Nov 2010.

DPU was 2.07 cents in the previous quarter.