CapitaMall Trust DPU for Q1 at 2.57 cents

CAPITAMALL Trust (CMT) achieved a 4.5 per cent year-on-year increase in distributable income for the first quarter ended March 31 to $89.1 million on the back of high occupancies in its shopping malls.

This translates to a distribution per unit (DPU) of 2.57 cents and an annualised distribution yield of 5.24 per cent based on CMT's closing price on April 22.

Gross revenue grew 5.8 per cent year-on-year to $164.7 million, thanks to higher occupancy at Plaza Singapura and The Atrium@Orchard and the completion of Phase 1 asset enhancement initiatives at IMM Building.