SGX Stocks and Warrants

Author: kimeng   |   Latest post: Tue, 22 May 2018, 10:06 AM


Frasers Centrepoint Trust: 2% YoY Growth for 2QFY18 DPU

Author:   |    Publish date:

Frasers Centrepoint Trust (FCT) reported an inline set of 2QFY18 results. Gross revenue and NPI jumped 6.3% and 6.9% YoY to S$48.6m and S$34.8m, respectively. This increase was driven largely by a recovery in revenue from Northpoint City North Wing following completion of its AEI. DPU rose 2.0% YoY to 3.10 S cents.

For 1HFY18, FCT’s gross revenue increased 7.5% to S$96.5m and accounted for 49.5% of our FY18 forecast. DPU of 6.10 S cents represented a growth of 2.9% and formed 50.1% of our full-year projection.

Overall portfolio occupancy inched up 1.4 ppt to 94.0%, while average portfolio rental reversion came in strongly at 9.1%, underpinned by the lease renewal of an anchor tenant with a 18.9% rental reversion.

Balance sheet remains healthy, with a gearing ratio of 29.2%, as at 31 Mar 2018. We will provide more updates after the analyst briefing.

Our BUY rating and S$2.49 fair value estimate remains unchanged.

Source: OCBC Research - 25 Apr 2018

Share this

Related Stocks

Chart Stock Name Last Change Volume 
Frasers Cpt Tr 2.20 +0.02 (0.92%) 1,151,400 

Market Buzz

Date Type Subject
18-May-2018 Announcement General Announcement::Frasers Centrepoint Trust Presentation Slides for REITs Symposium

  Be the first to like this.


127  187  235  519 

Top 10 Active Counters
 Ezion 0.126+0.005 
 Magnus Energy 0.0010.00 
 NetLink NBN Tr 0.79-0.01 
 Jiutian Chemical 0.0540.00 
 UMS 0.90-0.075 
 KrisEnergy 0.104+0.001 
 Moya Asia 0.09-0.005 
 Jasper Inv 0.01+0.003 
 Genting Sing 1.31+0.01 
 YZJ Shipbldg SGD 1.05+0.02 
Partners & Brokers