CapitaLand Commercial Trust Q3 DPU falls 9.1% to S$0.02

CAPITALAND Commercial Trust's distribution per unit fell by 9.1 per cent to two Singapore cents for its third quarter ended Sept 30, from 2.20 Singapore cents a year ago.

Gross revenue was down 8.7 per cent to S$94.7 million for the quarter, from S$103.8 million a year earlier. For the quarter under review, full-quarter contribution from Main Airport Center which was acquired in September 2019, as well as higher contributions from Gallileo and CapitaGreen were offset by reduced gross revenue from the other Singapore operating properties due to asset enhancement works, lower occupancies, lower non-rental revenue and rental waivers granted to tenants in view of Covid-19, the manager said on Wednesday.

Net property income fell 9.9 per cent on the year to S$73.1 million for the quarter, from S$81.1 million.

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