CapitaMall Trust’s Q2 DPU up 3.1% at 2.36 cents

CapitaMall Trust said its distribution per unit (DPU) for the second quarter rose 3.1 per cent to 2.36 Singapore cents.

That is up from the 2.29 Singapore cents reported in the same period a year ago.

The trust said that this is largely due to the higher rental rates secured from new and renewed leases, and is supported by a stable economy, low unemployment rate and healthy consumer spending.

Net property income for the quarter ended June was up by 7.7 per cent on-year to S$106.4 million.

Going forward, CapitaMall Trust said the asset enhancement initiatives for JCube, The [email protected], Junction 8 and Iluma are expected to boost its DPU growth for the next few years.

The trust is a unit of property developer CapitaLand.

Source : Channel NewsAsia – 18 Jul 2011