Croesus Retail Trust posts DPU of 2.01 Singapore cents for Q4

JAPANESE mall owner Croesus Retail Trust reported a distribution per unit (DPU) of 2.01 Singapore cents for its fourth quarter, up from 1.7 Singapore cents in the previous year, the group said in a Singapore Exchange filing on Friday morning.

That came as Q4 income available for distribution increased 19 per cent to 1.3 billion yen (S$16.2 million) from the preceding year.

For the three months ended June 30, gross revenue expanded 11.9 per cent to 2.99 billion yen from the previous year. Net property income edged up 0.1 per cent to 1.44 billion yen from the preceding year.

The expansion in gross revenue was due mainly to the acquisition of Fuji Grand Natalie on April 18, 2016 and Mallage Saga and Feeeal Asahikawa on May 27, 2016. Higher variable rent from better tenant sales in Mallage Shobu and a strong performance by the cinema in Torius also contributed to the rise in gross revenue, it said.