Capitaland Retail China Trust posts 4.4% dip in Q2 DPU

CapitaMall Wangjing in Beijing, China, developed by Capitaland Retail China Trust.
CapitaMall Wangjing in Beijing, China, developed by Capitaland Retail China Trust.PHOTO: CAPITALAND

SINGAPORE - Capitaland Retail China Trust (CRCT) said on Wednesday (July 27) that its distribution per unit (DPU) for the second quarter ended June 30 dipped 4.4 per cent to 2.61 Singapore cents from 2.73 Singapore cents in the year-ago period.

This came on the back of a 1.5 per cent drop in net property income for the quarter to S$35.5 million.

CRCT said that in the first half of 2016, its malls registered 4.6 per cent growth in net property income, while rental reversion was 5.9 per cent. Portfolio occupancy as at June 30, 2016. remained steady at 94.9 per cent.

For the first half-year, DPU was 0.9 per cent lower at 5.32 cents from 5.37 cents a year ago.

CCRT said it continues to be positive on China's long-term retail growth prospects.