CapitaLand China Trust posts 35.1% rise in second-half DPU to 4.5 cents

SINGAPORE (THE BUSINESS TIMES) – CapitaLand China Trust (CLCT) on Monday (Jan 31) posted a distribution per unit (DPU) of 4.5 cents for its second half ended Dec 31, 2021, up 35.1 per cent from a DPU of 3.33 cents a year ago.

This comprised an advanced distribution of 2.7 cents per unit for the period from July 1 to Oct 20, 2021, following a private placement on Oct 21, which was paid in November 2021, and a distribution of 1.8 cents for the period from Oct 21 to Dec 31, 2021, its manager said in a press statement.

Gross revenue was up 84.5 per cent to $201.1 million for the second half of 2021, from $109 million a year ago.

Net property income grew 86.1 per cent year on year to $130.1 million for the half year, from $69.9 million, mainly due to CLCT's new acquisitions.

This includes new contributions from its recently acquired logistics portfolio and business park portfolio; 100 per cent contribution from Rock Square, a shopping mall located within the Jiangnanxi retail cluster in the Haizhu district of Guangzhou; and its first full-year contribution from CapitaMall Nuohemule, which officially opened in December 2020, in Yuquan district, Inner Mongolia.

Total distributable income for the second half was $71.4 million, up 67.4 per cent from $42.7 million in the second half of 2020.

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CLCT will pay a distribution of 1.8 cents per unit for the Oct 21 to Dec 31, 2021, period come March 7, after the record date of Feb 10.

Units of CLCT ended two cents or 1.7 per cent lower at $1.14 last Friday.

Artmotion Asia

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