CapitaMall Trust yields S$76.6m distributable income
Atrium@Orchard's enhancement works are also paying off with occupancy improved to 96%.
1Q performances across CMT’s portfolio stayed firm with Topline coming in at S$155.2m, up 0.4% YoY and average rental reversions over the quarter positive at 6.1% across the portfolio.
Here's more from OCBC Investment Research:
CapitaMall Trust (CMT) reported 1Q12 distributable income of S$76.6m (DPU: 2.30 S-cents) which is 4.6% higher YoY. This is broadly in line with expectations and make up 23% of the FY12 forecast.
Topline came in at S$155.2m, up 0.4% YoY. 1Q performances across CMT’s portfolio stayed firm; occupancy improved to 96% with pressure coming mostly from Atrium@Orchard due to enhancement works.
Average rental reversions over the quarter remained positive at 6.1% across the portfolio. Management also reported that JCube opened on 2 Apr 12, with 99% of NLA committed, and would contribute to earnings from 2Q12 onwards.