CapitaLand Mall Trust’s distributable profit up 4.2% to $96.7m in Q1

Thanks to maiden contributions from Bedok Mall.

CapitaLand Mall Trust reported that its distributable income rose 4.2% year-on-year to $96.7 million in the first quarter, on back of robust contributions from the newly-acquired Bedok Mall and higher rental income from IMM Building.

The group’s net property income rose 8.6% to $127.86 million, while gross revenue rose 7.4% to $179.8 million.

The strong contributions from Bedok Mall and IMM Building was partially offset by lower gross revenue from JCube due to lower occupancy, and the absence of recurring income from Rivervale Mall following its divestment on 15 December.

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