Q3 2010 results for Fortune Reit:
Key Points
- DPU for the reporting quarter is 5.76 HK cents.
- Total Revenue for the third quarter was HK$205.7 million, 22.9% higher compared to the same quarter last year.
- The higher revenue was mainly contributed by the 3 new properties acquired in October 2009 as well as improved performance in The Metropolis Mall, Ma On Shan Plaza and Jubilee Court Shopping Centre.
- Portfolio occupancy rate and passing rent were at a record high of 98.0% and HK$27.7 psf as at 30 September 2010.
- Net Property Income was HK$142.2 million, a 19.9% increase over the same period last year.
- Gearing level of about 21.5% as at 30 September 2010.
- NAV per unit of HK$5.67 as at 30 September 2010.
Author's Note
The DPU for the reporting quarter is 5.76 HK cents. There will not be any distribution this quarter as the reit has a semi-annual distribution policy.
DPU for the previous quarter was 5.89 HK cents.
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