CapitaRetail China Trust reports 12.1% rise in Q2 DPU

CapitaRetail China Trust (CRCT) has reported higher distribution per unit (DPU) of 2.41 Singapore cents for the second quarter of 2012.

This is an increase of 12.1 per cent over the 2.15 cents in the same period last year.

Gross revenue for the three months ending June 30 increased 24.3 per cent year-on-year to S$38.1 million, while net property income was up 20.9 per cent year-on-year to S$24.9 million. This was mainly due to a stronger RMB against the Singapore dollar.

The trust manager CapitaRetail China Trust Management (CRCTM) said the higher DPU was due to the contribution from CapitaMall Minzhongleyuan which was acquired on June 30
last year.

Shopper traffic and tenant sales across multi-tenanted malls also increased by 26.4 per cent and 13.1 per cent respectively.

Victor Liew, chairman of CRCTM, said: “We remain positive about the growth prospects in China. The Chinese government has been taking proactive steps to boost domestic
consumption as a pillar of economic growth.”

In a statement on Wednesday, CRCT said unit-holders can expect to receive their DPU for the second quarter, along with their DPU for the first quarter, totalling 4.82 Singapore cents, on 26 September 2012.

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