of 5.49 times for 2Q12. FCT’s average cost of borrowings for 2Q12 improved to 3.04% from 3.06% in the previous quarter.
- Gross revenue was up 27.4% year-on-year to $36.7 million and net property income jumped 30.4% to $26.2 million. Income available for distribution for the quarter was $21.3 million, of which $20.6 million will be paid to unitholders on 30 May 2012. $0.7 million has been retained, adding to the $1.6 million retained in the previous quarter.
- FCT’s financial position remains strong with gearing level at 30.9% as at 31 March 2012 and interest cover
- Share price remains strong and look to progressively rise towards the year end.