, Singapore

Croesus Retail Trust’s net property income up 37.3% in 1Q15

Its DPU exceeded forecasts by 10.1%.

Croesus Retail Trust today revealed that its Net Property Income for 1Q FY2015 soared 37.3%year-on-year to $12.4m (JPY 1,113m), compared to its NPI of $9.05m (JPY 811m) in the corresponding period in the financial year ended on 30 June 2014.

CRT announced an available distribution per unit of of 2.08 cents for the quarter, exceeding the forecast figures by 10.1%.

CRT’s gross revenue grew 34.1% in the quarter, due mainly to contributions from its additional portfolio of Luz Omori and NIS Wave I, as well as increase in other income from Mallage Shobu.

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