CapitaMall Trust’s net property income down 4.1% to $106m in Q4

Tenant sales decreased by 1.9%.

CapitaMall Trust today reported that its net property income declined 4.1% year-on-year to $106m in the fourth quarter.

Meanwhile, gross revenue inched up 2.2% to $165.2m while its fourth quarter DPU grew 5.1% to 2.86 cents.

Full-year net property income increased 2.2% to $448.4m. Gross revenue came in at $658.9m, 3.3% higher than the previous year. Full-year DPU grew 5.6% to 10.84 cents.

Shopper traffic decreased by 0.9% year on year, while tenants’ sales per square foot per month decreased by 1.9% year-on-year. CMT also reported rental reversions of 6.1% for its portfolio in FY14, backed by 490 new leases/renewals.

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