CapitaRetail China Trust’s Q3 DPU at 2.08 S’pore cents

Mainboard-listed CapitaRetail China Trust (CRCT) said on Wednesday that its distribution per unit (DPU) rose in the third quarter.

DPU for the third quarter was 2.08 cents, three per cent higher than the 2.02 cents announced over the same period a year ago.

Net property income over the period showed a 4.3 per cent on-year increase to S$19 million.

This was largely attributed to better performance at most malls, particularly the multi-tenanted Xizhimen Mall and Wangjing Mall in Beijing as well as the Saihan Mall in Huhhot, Inner Mongolia.

Distributable income, meanwhile, was up 3.2 per cent on-year to S$12.9 million.

CRCT’s Chairman Victor Liew said China’s total retail sales of consumer goods grew 18.2 per cent year-on-year for the first eight months, with the economy projected to grow at about 10.5 per cent in 2010.

Looking ahead, he added that the trust is well-positioned to benefit from increased consumption and sustained economic growth in China.

Source : Channel NewsAsia – 20 Oct 2010

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