CapitaLand Mall Trust's Q1 DPU up 3.6%

Singapore

CAPITALAND Mall Trust (CMT) is raising its first-quarter distribution per unit by 3.6 per cent to 2.88 Singapore cents, thanks to a boost in contributions from Westgate Mall, the trust manager announced on Wednesday before the market opened.

Net property income for the three months ended March 31 grew 11.5 per cent to S$140.1 million, while gross revenue rose 10 per cent to S$192.7 million. Distributable income increased by 7.4 per cent to S$106.3 million.