CRCT posts Q1 DPU of 2.59 Singapore cents
CAPITALAND Retail China Trust (CRCT) on Wednesday posted a distribution per unit (DPU) of 2.59 Singapore cents for the first quarter ended March 31, down from 2.75 cents a year ago.
Gross revenue increased 1.1 per cent to S$55.96 million, underpinned by stronger rental growth from the core multi-tenanted malls, while net property income rose 7 per cent to S$39.8 million. Income available for distribution to unitholders was up 4.9 per cent to S$24.87 million.
Tan Tze Wooi, chief executive of CRCT Management, said: "In 1Q 2019, CRCT's tenant sales increased 9.8 per cent year-on-year while shopper traffic grew 14 per cent. Portfolio occupancy as at March 31 2019 remained high at 97.4 per cent. This strong foundation will anchor CRCT's performance as we forge ahead with our tenant remix strategy to draw more popular concepts."
Units in CRCT closed at S$1.51 on Wednesday, up one cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch