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CapitaLand Mall Trust Q4 DPU up 4% to 3.11 S cents

CAPITALAND Mall Trust (CMT) on Wednesday posted a distribution per unit (DPU) of 3.11 Singapore cents for its fourth quarter ended Dec 31, up 4 per cent from 2.99 cents a year ago.

Gross revenue rose 12.7 per cent to S$203.4 million from S$180.5 million a year ago mainly due to CMT completing its acquisition of a remaining 70 per cent interest in Westgate and the opening of the redeveloped Funan mall.

Net property income (NPI) grew 13.1 per cent to S$140.7 million from S$124.4 million a year ago.

Distributable income rose 6 per cent to S$114.6 million from S$108.2 million.

The distribution will be paid out on Feb 28, after books closure on Jan 31.

Meanwhile, for the full year ended Dec 31, 2019, DPU was higher at 11.97 Singapore cents versus 11.5 cents a year ago, and distributable income rose 7.5 per cent to S$441.6 million from S$410.7 million. Gross revenue grew 12.8 per cent to S$786.7 million from S$697.5 million while NPI increased by 13.1 per cent to S$558.2 million from S$493.5 million.

CMT units closed down S$0.02 or 0.8 per cent to S$2.59 on Tuesday.