CapitaLand Mall Trust Q3 DPU up 9.6 per cent

By

Melissa Tanmelissat@sph.com.sg@MelissaTanBT

The Reit manager's chief executive officer Wilson Tan said in a statement that portfolio occupancy remained high at 96.8 per cent as at Sept 30, despite ongoing refurbishment and reconfiguration works at some of its malls. 

CAPITALAND MALL TRUST MANAGEMENT LIMITED

OCT 22, 20158:32 AM

CHEAPER utility bills and lower finance costs gave a boost to third-quarter earnings for mall owner CapitaLand Mall Trust.

Distribution per unit (DPU) for the three months ended Sept 30 jumped 9.6 per cent year-on-year to 2.98 Singapore cents, the real estate investment trust (Reit) said in a Singapore Exchange filing on Thursday.

Its distributable income grew to S$103.2 million, 10.2 per cent higher than the previous year. The increase was mainly because Q3 distributable income included the release of S$8 million of taxable income retained in Q1 2015, the Reit said.

Gross revenue fell 1.8 per cent to S$161.7 million and net property income slipped 0.7 per cent to S$113.3 million.

The Reit manager's chief executive officer Wilson Tan said in a statement that portfolio occupancy remained high at 96.8 per cent as at Sept 30, despite ongoing refurbishment and reconfiguration works at some of its malls.