Japanese mall owner Croesus Retail Trust on Friday reported an 18.2 percent increase in quarterly distribution per unit, helped by higher sales.
Distribution per unit rose to 2.01 Singapore cents for the three months ended June 30 compared to 1.70 Singapore cents in the previous corresponding period.
Income available for distribution rose 19 percent to 1.27 billion yen in the fourth-quarter.
Cost savings arising from the internalisation of the Trustee-Manager, lower finance cost and realised gain on disposal of units of CRT led to the increase in income.
Croesus Retail Trust's gross revenue gained nearly 12 percent to 2.99 billion yen, the company said in a statement.
To mitigate its foreign currency exposure, CRT has hedged almost 100 percent of its expected distributable income up to June 2019 as it receives its distributable income in Japanese Yen and pays out distributions in Singapore Dollars.
Shares in the company were unchanged at S$1.195 on the Singapore exchange. Stock has jumped 43 percent so far this year.
