Frasers Logistics & Commercial Trust 1H26 Results - DBS Research 2026-05-05: Improving Core Earnings To Offset Lower Capital Distributions

• Frasers Logistics & Commercial Trust (SGX:BUOU)’s 1HFY26 revenue rose 2.8% y-o-y to S$238.9mil, while adjusted NPI increased 3.6% y-o-y to S$167.0mil, supported by positive rental reversions, annual rent reviews in the Australia and Europe logistics portfolios, full contribution from 2 Tuas South Link 1 and stronger AUD, EUR and GBP average exchange rates against S$.

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Core DPU improved ~12% y-o-y.

• Frasers Logistics & Commercial Trust's DPU declined 1.7% y-o-y to 2.95 cents despite underlying income growth, mainly because capital distribution from divestment gains fell to S$5.0mil from S$18.0mil. Excluding capital distribution, DPU rose 11.9% y-o-y to 2.82 cents, with distributable income before capital distribution up 12.5% y-o-y to S$106.9mil.

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Portfolio occupancy remained stable at 96.1%.

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Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2026-05-26 Frasers Logistics & Commercial Trust - Strength in Partnership, Growth in Motion.

Price targets by 2 other brokers at Frasers Logistics & Commercial Trust Target Prices.

Listing of research reports at Frasers Logistics & Commercial Trust Analyst Reports.

Relevant links:
Frasers Logistics & Commercial Trust Share Price History,
Frasers Logistics & Commercial Trust Announcements,
Frasers Logistics & Commercial Trust Dividend Payout Dates & Corporate Actions,
Frasers Logistics & Commercial Trust News