Wednesday, April 18, 2012

Strong quarter for mall Reit CRCT

Straits Times: Wed, Apr 18
RENTAL growth from two malls and higher occupancy rates delivered CapitaRetail China Trust (CRCT) a strong first quarter.

Distributable income jumped 23.6 per cent to $16.6 million, while gross revenue increased 22.7per cent to $37.9 million.

CRCT, the only China shopping mall real estate investment trust (Reit), has nine malls in six cities.

Net property income was $25.4 million for the three months to March 31.

Distribution per unit (DPU) increased 12.1per cent to 2.41 cents. Annualised DPU was 9.69 cents, up 11.1 per cent, based on CRCT's closing price of $1.265 per unit on Monday, giving an annualised distribution yield of 7.7per cent...

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Team Marshe
Martin Koh/ Sherry Tang
9383-3992/ 9844-4400

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