Frasers Commercial Trust’s Q3 DPU falls, but year-to-date DPU still up

Frasers Commercial Trust’s Q3 DPU falls, but year-to-date DPU still up

 

Frasers Commercial Trust said today that its distribution per unit (DPU) in the third quarter dropped 30 percent to 1.11 cents

 

Distributable income fell by some 27 percent to 8.07 million dollars

 

The firm said increased property earnings were offset by the full quarter effect of additional bank borrowings used for last year’s acquisitions

 

Higher margins on Singapore dollar loans with the Loan Note Facility extension also impacted earnings

 

For the first 9 months of the year though, distributable income rose 13 percent to 36 million dollars, while DPU was up 9 percent to 4.96 cents