New mall lifts Croesus Q1 results

Singapore

CROESUS Retail Trust on Wednesday reported a distribution per unit (DPU) of 2.08 Singapore cents for its first quarter ended Sept 30, 2015, unchanged from a year ago.

Gross revenue rose 17.2 per cent to two billion yen (S$23 million). This was due mainly to the acquisition of One's Mall in Chiba, Japan, in October last year, and the tenant renewal exercise at Mallage Shobu in the Saitama Prefecture, it said. However, the increase was partially offset by an absence of a one-off income at Mallage Shobu recorded in Q1 last fiscal year.