CapitaLand Commercial Trust NPI up 2.7% to $58.56m in Q3

The sale of its stake in three properties pulled revenue down.

CapitaLand Commercial Trust's (CCT) net property income (NPI) rose 2.7% YoY to %58.56m in Q3.

According to its financial statement, distribution per unit (DPU) grew by 6.9% YoY from 1.89 cents to 2.02 cents. Distributable income rose 7% YoY to $73.11m due, which includes a $3.3m gain from the sale of Wilkie Edge and its 50% interest in One George Street.

Revenue dipped 0.4% YoY from $74.42m to $74.15m after CCT sold its stakes in three properties.

CCT sold Golden Shoe Car Park on 12 July, Wilkie Edge on 11 September, and its 50% stake in One George Street on 19 June. This resulted in lower revenue, partially offset by higher gains from CapitaGreen.

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