CapitaMall Trust DPU Increased by 4.8% in 3QFY19

CapitaMall Trust currently makes up 11% of my stock portfolio. On 21st October 2019, CapitaMall Trust announced a decent set of 3QFY19 financial results. Gross revenue increased by 17.9% to S$201.1 million. Net Property Income (“NPI”) increased by 17.6% to S$144.2 million. The most important of all, Distribution Per Unit (“DPU”) increased by 4.8% to 3.06 cents.

The increase in gross revenue was mainly due to the acquisition of the balance 70% interest in Westgate in November 2018 and the commencement of operations at Funan. There may be slight impact to gross revenue in the subsequent quarters as Lot One Shopper’s Mall commence its rejuvenation works in 3QFY19. The rejuvenation works are expected to complete by 2H2020.

One thing noteworthy is that even though shopper traffic increase by 1.3% year on year, tenant sales fell by 1.3% year on year. Read More