Frasers Centrepoint Trust (FCT) on Monday said that its distribution to unitholders for its first quarter ended Dec 31, 2009 rose 15 per cent to $12 million (US$8.5 million) from $10.4 million a year ago.
Distribution per unit (DPU) rose to 1.91 cent from 1.67 cents.
Net income for the quarter rose 20 per cent to $10.1 million from $8.4 million. The increase is partly due to the improvement in revenue generated from Northpoint upon the completion of its addition and alteration works in August 2009.
FCT’s property portfolio continued to achieve positive rental reversions during the quarter ended Dec 31, 2009, the trust said.
Source : Business Times – 25 Jan 2010
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