CRCT: 26.9% owned by CMA. Co reports 1Q2011 results with rev at $30.9m, +4.7%yoy +2.5%qoq, of which gross rental income made up $28.9m +3.9%yoy +3.5%qoq. Net profit was $11.5m -0.2%yoy -81.5%qoq. Profit for last quarter was distorted due to revalution gains ($66.4m) and taxation provisions (-$18.5m)…
Income available for distribution rose 1.0% to $13.5m. Results were better due to higher occupancies achieved and higher tenant sales on several malls after completion of asset enhancement. A stronger SGD against RMB also added $1.4m yoy. Trust pays semi-annually with div yield of 6.6% which current results appear to be in-line with.
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