Higher rents boost CaptiaRetail China Trust's Q4 performance

HIGHER rents helped CapitaRetail China Trust (CRCT) post strong fourth-quarter results today.

Distributable income came in at $16.8 million, up 7 per cent from a year earlier.

Net property income for the three months to Dec 31 increased 6 per cent to $24.2 million from the same period a year ago, while distribution per unit (DPU) inched up 0.02 cent to 2.3 cents.

Net property income for the full year grew 16.2 per cent to $99.7 million, with the biggest contribution from the trust's largest mall CapitaMall Xizhimen, in Beijing.

Trust manager chief executive Tony Tan attributed growth in net property income to an increase of 13.4 per cent in tenants' sales and rental reversions of 17.5 per cent.

Unitholders can expect to receive DPU of 1.5 cents for the period from Nov 2 to Dec 31 on Mar 27.

CRCT's share price rose four cents to close at $1.795.

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