No thanks to the absence of contributions from CapitaMall Anzhen.
Retail woes continued to plague CapitaLand Retail China Trust (CRCT) as its net property income (NPI) fell 5.2% YoY to $33m in Q4, mainly due to the absence of contributions from CapitaMall Anzhen.
OCBC Investment Research said higher NPI was clocked at all the assets except Grand Canyon and Qibao.
Meanwhile, revenue fell 4.6% YoY to $54.1m. Distribution per unit (DPU) ended flat at 2.37 cents, which includes it includes a partial distribution of the gain from the disposal of Anzhen.