FraserCenterPoint Trust (FCT) announces its Q3 FY2013 results on strong operational performance with record-high gross revenue and DPU.
Gross Revenue and NPI
- Q3 2013 gross revenue grew 12.4% year-on-year to a new high of $39.97 million, while NPI rose 15.4% year-on-year to $28.5 million.
- This growth was bolstered by higher contributions mainly from anchor CausewayPoint and Northpoint.
- Growth factors include higher occupancy after completion of AEI, positive rental growth, higher turnover rents and improved car park income.
Balance Sheet
- Balance sheet remains solid with gearing level stabilizing at 30.4% as at 30 June 2013.
- Effective interest rate is at 2.72% (higher than SPH Reits which stands at 2.35%) on its average maturity term at 3.10 years.
- Interest Coverage is at 6.25x and one of the better performer amongst all other REITS.
Portfolio Occupancy
- Overall occupancy improved from ...