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CapitaLand Mall Trust 3Q15 DPU up 9.6%

Shares Investment

CapitaLand Mall Trust has announced a distribution per unit (DPU) of 2.98 cent for 3Q15, an improvement of 9.6 percent from 2.72 cents last year despite experiencing a dip in year-to-date 9M15 gross revenue.

The group reported a one percent dip in 9M15 gross revenue to $488.6 million partly due to lower contributions from IMM as a result of the ongoing phase 2 Asset Enhancement Initiative (AEI) and lower occupancy in both JCube and Clarke Quay. This was partially offset by higher gross revenue from Bugis Junction after the completion of phase 2 AEI in September 2014.

However a reduction in utilities expenses as well as the release of $8 million of taxable income retained in 1Q15 assisted in boosting the group’s 9M15 distributable income to $290.1 million, an improvement of 5 percent as compared to last year, resulting in the increase in DPU for unitholders.



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