Croesus Retail Trust's net property income surged 48.8% to $136.2m in Q2

Thanks to more property acquisitions.

Croesus Retail Trust today reported that its net property income surged 48.8% to $136.2m (JPY1.2b) in Q2, on back of contributions from property acquisitions and higher tenant sales.

Net property income was higher than forecast due mainly to the addition of Luz Omori and Croesus Tachikawa (formerly known as NIS Wave I) acquired on 6 March 2014 and One’s Mall acquired on 16 October 2014. In addition, better tenant sales at Mallage Shobu contributed to the positive results.

Croesus Retail Trust Q2 DPU is pegged at $2.08 cents per share, with quarterly year-on-year DPU growth of 3%.

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