On 26th April 2023, Frasers Centrepoint Trust released their 1HFY23 Financial Results. Earlier this year, I wrote about Frasers Centrepoint Trust. Subsequently, I made my maiden entry and added the REIT to my stock portfolio. With the relaxation of COVID-19 measures and borders reopening, most retail REITs have benefited from the return of shopper traffic. How has Frasers Centrepoint Trust fare in FY23 with its portfolio of suburban malls? Let us find out more below.

Frasers Centrepoint Trust 1HFY23 Financial Results

In 1HFY23, Gross Revenue and Net Property Income increased by 6.5% and 5.7% respectively. The increase was driven by higher atrium income and rent growth. In 1H2022, Frasers Centrepoint Trust had retained $4.8 million of its taxable income available for Distribution to Unitholders. In 1H2023, Frasers Centrepoint Trust had released $1.7 million of its tax-exempt income available for distribution to Unitholders which was retained in 2H2022 and retained $3.0 million of its current period’s tax-exempt income available for distribution to Unitholders....