Frasers Centrepoint Trust's net property income up 6.9% to $111.6m

Gross revenue also surged 7.3%.

According to OSK, Frasers Centrepoint Trust reported an in-line set of FY13 results (Sept year-end) last night. FY2013 gross revenue grew 7.3%YoY to SGD158m (DMG est SGD159m), due to higher contributions from Causeway Point and Northpoint from better rental rates achieved for new and renewed leases during the year (average rental reversion for FY13 +7.7%).

Net property income grew 6.9% to SGD111.6m (DMG est SGD113m).

4Q13 DPU was up +10%YoY to 2.987cents, giving cumulative FY13 DPU of 10.93cts (DMG est 11cts). 

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