CapitaMall Trust says Q4 DPU down 1.4% on-year

CapitaMall Trust (CMT) said its fourth-quarter distribution per unit (DPU) fell 1.4 per cent on-year to 2.36 cents.

This is compared with 2.40 cents a year earlier.

CMT said distributable income in the fourth quarter also fell by 1.4 per cent on-year to S$75.4 million.

Net property income for the three-month period increased 5.7 per cent on-year to S$101.4 million.

Meanwhile, for the full year of 2010, the trust said its DPU is up 4.6 per cent to 9.24 cents.

CMT said the better performance for the full year is mainly due to the half-year contribution from Clarke Quay, rental increases from new leases and renewal of existing leases.

Looking forward, the trust said that Singapore’s economy is likely to be supported by Asia’s growth momentum and the domestic retail sector is expected to remain buoyant this year.

Unitholders can expect to receive their fourth quarter DPU on February 28.

Source : Channel NewsAsia – 20 Jan 2011

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