SINGAPORE - Mainboard-listed CapitaLand Mall Trust (CMT) said on Wednesday that its distribution per unit (DPU) for the second quarter to June 30, 2015, edged up 0.7 per cent to 2.71 cents from 2.69 cents a year ago despite a fall in property income.
Correspondingly, distributable income for the quarter was up 0.7 per cent to $94.0 million from $93.4 million for the same quarter last year.
Gross revenue for the second quarter fell 2.9 per cent to $159.6 million while net property income declined 4 per cent to $109.5 million.
Distributable income for the first half-year rose 2.4 per cent to $186.9 million, bringing CMT's DPU to 5.39 cents, a 2.5 per cent increase from the 5.26 cents for the first half of 2014.
Said Mr Wilson Tan, CEO of CMT's trust manager: "For the first half of 2015, we continued to deliver good operational performance. We registered year-on-year increases of 3.4 per cent in shopper traffic and 2.9 per cent in tenants' sales. Portfolio occupancy as at 30 June 2015 remained high at 96.4 per cent, despite ongoing asset enhancement initiatives and reconfiguration works at some of our malls."
Clarke Quay has been undergoing reconfiguration works for about 57,000 square feet of space to house new entertainment and food & beverage (F&B) tenants including Zouk, which will take up about 31,000 square feet.
Plaza Singapura will get interior renovation in the third quarter this year, he added.
CMT announced last week that it had acquired Bedok Mall from parent CapitaLand Ltd. The acquisition is targeted to be completed by the fourth quarter of this year.
Unitholders can expect to receive their second quarter DPU on August 28.
CMT units opened down four cents, or 1.84 per cent, at $2.14 on Wednesday.