CapitaLand Mall Trust's Q1 DPU flat, revenue dips on Funan mall closure

CAPITALAND Mall Trust on Thursday announced a distribution per unit (DPU) of 2.73 Singapore cents for its first quarter ended March 31, 2017, unchanged from a year ago.

Unitholders will receive their DPU on May 29. The books closure date is April 28.

Gross revenue for the first quarter was S$172 million, a decline of S$7.8 million or 4.3 per cent from a year ago, mainly due to the closure of Funan, as the mall ceased operations for redevelopment from July 2016.

Net property income was S$120.1 million, 6.1 per cent lower than S$127.9 million in the corresponding year-ago quarter, mainly due to lower gross revenue.

The counter closed one Singapore cent lower at S$2.01 on Thursday.