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%.
|Net Property Income||127,860||117,691||8.6|
|Distribution Per Unit (“DPU”) (cents)||2.73||2.68||1.9|
|Annualised DPU (cents)||10.98||10.87||1.0|
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
I am a little concerned that JCube is still underperforming.
Management seems to be taking a long time in turning JCube around.