- Frasers Centrepoint Trust (SGX:J69U) reported top-line 1H24 gross revenue of S$172.2m and NPI of S$124.6m. On a same-store basis, with the exclusion of contributions from Changi City Point and Tampines 1 (undergoing AEI), gross revenue and NPI would have been 2.9% and 2.1% higher y-o-y, respectively.
- - Read this at SGinvestors.io -
Underlying trading metrics in line
- Underlying trading metrics of Frasers Centrepoint Trust continue to perform in line with expectations, with an 8.1% y-o-y increase in shopper traffic to surpass pre-COVID levels for the first time in the CNY month of February (102% of 2019 levels).
- - Read this at SGinvestors.io -
- Occupancy maintained its upward momentum to reach the unseen levels of 99.9% (+0.7 ppt q-o-q and flat q-o-q).
- Overall reversionary rents signed during 1H24 were above expectations at 7.5% (excluding Tampines 1; vs 1H23: +4.3%).
NEX continues to perform well
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Geraldine WONG DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2024-04-26
Previous report by DBS:
2024-02-07 Frasers Centrepoint Trust - NEX Mall ~ The Newly Minted Titan In The Portfolio.
Price targets by other brokers at Frasers Centrepoint Trust Target Prices.
Listing of research reports at Frasers Centrepoint Trust Analyst Reports.
Relevant links:
Frasers Centrepoint Trust Share Price History,
Frasers Centrepoint Trust Announcements,
Frasers Centrepoint Trust Dividends & Corporate Actions,
Frasers Centrepoint Trust News Articles
