May 16, 2017

Croseus Retail Trust’s third-quarter available DPU rose 15.2% to 2.05 S cents on the back of recent acquisitions and improved tenant sales.

The real estate investment trust posted a 25.4% increase in distributable income, to ¥1.28b (S$15.77m), for the three months ended 31 March. For 9MFY17, income available for distribution was ¥3.61b, and available DPU was 5.65 S cents. Gross revenue increased by 22.4% to ¥3.01b, with the acquisition of the Fuji Grand Natalie on 18 Apr 16 and Mallage Saga and Feeeal Asahikawa on 27 May 16.

Better tenant sales also contributed to higher variable rent in Mallage Shobu, while a tenant paid compensation for early termination at Croesus Tachikawa.

Croesus Retail Trust closed at: S$0.995