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CapitaMall Trust DPU Rises for 1Q2016

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CapitaMall Trust announces its 1Q2016 results on 15th April 2016. A higher Distribution Per Unit (DPU) of 2.73 cents was announced for 1Q 2016 which is 1.9% increase as compared to 2.68 cents in 1Q 2015.

Gross revenue is 7.4% higher due to the contribution of S$14.6 million from the acquisition of Bedok Mall on 1 October 2015.

Net property income is 8.6% higher as compared to 1Q 2015.

Based on the closing price of S$2.17 on 15th April 2016, the annualised DPU is 5.06%.

1Q2016
(S$’000)
1Q2015
(S$ ‘000)
YoY(%)
Gross Revenue 179,801 167,353 7.4
Net Property Income 127,860 117,691 8.6
Distributable Amount 96,747 92,864 4.2
Distribution Per Unit (“DPU”) (cents) 2.73 2.68 1.9
Annualised DPU (cents) 10.98 10.87 1.0

Occupancy

Portfolio occupancy as at 31 March 2016 remained high at 97.7%.

Mr Wilson Tan, CEO of CMTML, said, “Despite the challenging macro environment, CMT registered year-on-year growth of 4.9% in shopper traffic and 4.6% in tenants’ sales in the first quarter of the year.

Things to Note

  • Redevelopment of Funan DigitaLife Mall
  • Asset enhancement initiatives for Plaza Singapura, Bukit Panjang Plaza and Tampines Mall

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