Croesus Q4 beats forecast

CROESUS Retail Trust (CRT) posted a distributable income of 707.4 million yen (S$8.51 million) for the fourth quarter, beating its forecast by 2.1 per cent even though its gross revenue was hit by Japan's higher consumption tax rate.

For the three months ended June 30, gross revenue was 1.58 billion yen, short of its forecast of 1.6 billion yen by 0.9 per cent.

Net property income (NPI) for the quarter beat its forecast by 2.6 per cent at 1.02 billion yen. As a result, available distribution per unit (DPU ) was two Singapore cents, 2 per cent higher than its forecast of 1.96 Singapore cents.