News

Commercial Property

Staff Reporter

, Singapore

Published:

9 months ago

CapitaLand Ascott Trust’s gross profit rose 31% in 1H 2023 with stronger operating performance and quality acquisitions such as La Clef Tour Eiffel Paris (pictured). (Photo from CLAS)

CapitaLand Ascott Trust sees 31% YoY jump in gross profit in 1H23

The REIT attributed the increase to the strong operation performance of its properties.

CapitaLand Ascott Trust (CLAS) recorded a $154.4m gross profit in 1H23, translating to a 31% increase from the same period last year (1H22).

Based on its latest financial statement, CLAS’ gross profit rose due to the “strong operating performance” of its properties.

Given the strong performance of CLAS’ assets, the REIT increased its distribution per stapled security (DPS) for 1H 2023 by 19% YoY to $0.0278. Excluding one-off items, adjusted DPS rose 37% YoY to $0.0244.

Meanwhile, the REIT’s portfolio revenue per available unit (REVPAU) also improved during the period, increasing by 44% YoY to $138.

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