CapitaCommercial Trust (CCT) achieved a distributable income of S$43.2m for the third quarter ended September 30. This was 46.1 per cent higher compared to the same period last year.
The increase was attributed mainly to the higher gross rental income achieved for its portfolio as well as income contribution from its No.1, George Street property.
The trust’s third quarter distribution per unit (DPU) also saw an increase of 44.9 per cent to 3.1 cents compared to the same period last year.
This was 4 per cent above an earlier forecast by trust manager CapitaCommercial Trust Management.
CCT’s DPU for the first nine months of the year was 8.29 cents.
Based on the closing price of S$1.02 per unit on October 22, the distribution yield was 10.9 per cent.
Source : Channel NewsAsia – 23 Oct 2008