CRT's DPU of 3.26 cents beats forecast by 4.6%

BUOYED by an upturn in consumer sentiment, Croesus Retail Trust's (CRT) distribution per unit (DPU) of 3.26 Singapore cents for the 144 days ended Sept 30 beat its IPO forecast by 4.6 per cent.

CRT's first income available for distribution beat its forecast by 8.3 per cent, at 1,140 million yen (S$14.3 million), compared with a forecast of 1,052 million yen.

The upside was largely due to property tax rebates and a decrease in current income tax. This was offset by a difference in hedge rates between actual and forecast for the period.