Monday, January 23, 2012

CCT posts declines in Q4, full-year DPU

Business Times: Sat, Jan 21
CAPITACOMMERCIAL Trust (CCT) has posted declines in its Q4 and full-year distribution per unit (DPU) figures.

The trust, which makes semi-annual distribution payouts, will give unitholders 3.75 cents for the July 1-Dec 31, 2011, period, down from 3.93 cents in the same year-ago period.

For the fourth quarter ended Dec 31, 2011, DPU dipped one per cent over the year-ago period to 1.92 cents. Gross revenue eased 2.4 per cent to $89.9 million due mainly to lower revenue from Six Battery Road as a result of lower occupancy and negative rent reversions. The redevelopment of Market Street Car Park into an office project also contributed to the revenue drop. However, this was mitigated by higher income contribution from other properties, mainly Raffles City, in which CCT has a 60 per cent stake...

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