CRCT’s Q2 DPU up 14%

CapitaRetail China Trust (CRCT) reported that its distribution per unit (DPU) in the second quarter rose 14.1 per cent to 1.94 cents.

The DPU announced is higher than the 1.7 cents DPU reported over the same period last year.

Distributable income for the three months to June was S$12 million, 14.2 per cent higher than last year’s S$10.5 million.

Higher earnings came about as net property income grew by 5.8 per cent year-on-year and by 2.2 per cent over the preceding quarter.

Rental reversions and same-store sales also remained stable with a total of 79 new leases and renewals committed.

CRCT said it has retained 6.3 per cent or S$0.8 million of the actual income available for distribution in a move to be prudent.

However, the trust added that it remains committed to distribute 100 per cent of the total income available for distribution for the full financial year.

Source : Channel NewsAsia – 23 Jul 2009

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