Croesus Retail Trust off to a ‘solid start’ in FY17

SINGAPORE (Nov 15): DBS Group Research is keeping Croesus Retail Trust at “buy” with an unchanged target price of 99 cents following 1Q17 results that were “in line with expectations”.

CRT announced a DPU of 1.79 cents for 1Q17 ended Sept, a 9.8% increase from the restated DPU of 1.63 cents in the same quarter last year.

Gross revenue of JPY 3,126 million ($41.4 million) for 1Q17 was 55.8% higher than the JPY2,007 million recorded in 1Q16.

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