Croesus' Q4 DPU up as acquisitions drive growth in revenue
Income available for distribution rises 19% to 1.27b yen
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Singapore
RIDING on a 19 per cent year-on-year rise to 1.27 billion yen (S$15.9 million) in fiscal fourth-quarter income available for distribution, Croesus Retail Trust on Friday reported a distribution per unit (DPU) of 2.01 Singapore cents for the three months ended June 30, 2017, up from 1.70 cents a year ago. This raised the DPU payable for the second-half of FY2017 to 4.06 cents.
In its pre-market results announcement, the Japanese mall owner reported an 11.9 per cent rise to 2.99 billion yen in Q4 FY2017 gross revenue. The revenue expansion was due mainly to the acquisition of Fuji Grand Natalie on April 18, 2016 as well as Mallage Saga and Feeeal Asahikawa on May 27, 2016.
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