Tuesday, July 24, 2012

First Reit 2QFY2012

Results for Q2FY2012 released on 24/7/2012.

NAV (as at 31th 2011)  = 79.51 cents
DPU (Q4FY2011)         = 1.93 cents (include 0.34 cents from divestment of Adam Road Property)
Annualized DPU            = 7.07 cents
Total Assets                   = $649,640,000
Total Liability                = $148,525,000
Total Debt                      = $98,300,000
Net Property Income      = $13,900,000
Distributable Income       = $12,200,000
Debt to Property Valuation Ratio = 15.9%
Interest Cover                  = 11.8


Based on $8.7m gain in the Adam Road Property divestment, it amount to approx to $1.30 per shr.So, $1.30/0.34 is about 4. Hence, expect the gain to be distributed in 4 quarters starting from 3QFY2011.

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