CapitaRetail China Trust says Q3 distributable income, DPU up slightly

CapitaRetail China Trust (CRCT) said on Friday that its third quarter distribution per unit (DPU) is 2.02 cents. This is 0.5 per cent higher than the 2.01 cents DPU announced over the same period last year and 4.5 per cent more than the previous quarter’s DPU.

Distributable income for the period ended in September is S$12.6 million, 1 per cent more than last year’s S$12.4 million. Net property income was also marginally higher at S$18.2 million, an on-year increase of 0.7 per cent.

CRTC said appreciation of the Chinese yuan against the Singapore dollar and an increase in occupancy rates boosted its earnings. It added that retail sales in China remained strong, underpinned by the Chinese government’s measures to increase domestic consumption.

CRCT remains confident of its ability to refinance its debts when they mature, with interest rates expected to be in line with general market conditions.

Source : Channel NewsAsia – 23 Oct 2009

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