Frasers Centrepoint Trust (SGX:J69U) (FCT)’s Distribution per unit (DPU) for 1 April 2020 to 30 September 2020 (2H FY2020) declined by 26.1% to 4.372 Singapore cents, reported its Manager on 3 November 2020.
Revenue in 2H20 declined 33.8% y-o-y to S$64.46 million while net property income was down 42.8% y-o-y to S$38.61 million. The lower financial performance was mainly attributed to provision of rental rebates, with S$27.5 million given to tenants in 2H 2020.
Total distribution to unitholders was S$48.94 for 2H 2020, down 21.7% y-o-y. This was partly offset by the release of the retained distribution of S$18.0 million from 1H20 and the full year contributions of dividend received from FCT’s investment in AsiaRetail Fund Limited (ARF) and Sapphire Star Trust (SST).
“The COVID-19 pandemic has hit the retail sector hard, particularly in the second half of FY2020,” said Mr Richard Ng, Chief Executive Officer of Frasers Centrepoint Asset Management Ltd....
