Frasers Logistics & Commercial Trust’s 1H FY24 Result Review
By REIT-TIREMENT  •  May 19, 2024
Basic Profile & Key Statistics

Key Indicators

Performance Highlight
Year over year, gross revenue and NPI have seen a slight increase, driven by positive rent reversions and rental escalations. Despite a significant rise in finance costs, distributable income and DPU remain similar, supported by the release of a greater divestment gain this year.

Rental Reversion
FLCT achieved strong portfolio rent reversion for the 1h FY24, with 10% for incoming vs outgoing and 18.3% for average vs average.

In March, FLCT completed the acquisition of 4 logistics properties in Germany. 

The construction of the Maastricht Logistics Development began in the 2Q FY24 and is expected to be completed in the 1H FY25, which is an ambitious 12-month timeframe. Additionally, the development of Ellesmere Port reached completion in December 2023.

Asset Enhancement Initiative
Facade replacement for Central Park is expected to be completed by 4Q 2024. A substantial amount of material
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