Croesus Retail Trust Q1 DPU up 9.8%

CROESUS Retail Trust posted an available distribution per unit (DPU) of 1.79 Singapore cents for the first quarter ended September 2016, up 9.8 per cent from 1.63 Singapore cents a year ago.

CRT said the available DPU for the corresponding quarter of 2015 was restated to reflect the effect of 114 million units issued pursuant to the renounceable rights issue and preferential offering on Aug 25, 2016.

Income available for distribution rose 25.4 per cent to 1.2 billion yen (S$15.8 million) from 919 million yen.

Net property income increased 29.5 per cent to 1.6 billion yen from 1.2 billion yen.

CRT reported a gross revenue of 3.1 billion yen, up 55.8 per cent, due mainly to higher contributions from newly acquired properties Torius, Fuji Grand Natalie, Mallage Saga and Feeeal Asahikawa.