CapitaLand Ascott Trust's gross profit up 8% on portfolio reconstitution efforts

These efforts include acquisitions and asset enhancement initiatives.

CapitaLand Ascott Trust reported an 8% YoY higher gross profit in Q3 2024 on stronger operating performance and portfolio reconstitution initiatives.

In its financial report, the business trust stated that its portfolio reconstitution initiatives yielded positive results.

It said its acquisitions, asset enhancement initiatives (AEIs), and interest savings from repaid high-interest debts offset income losses from divestments and ongoing AEIs.

Without the impact of acquisitions and divestments between Q3 2023 and Q3 2024, gross profit would increase by 2% YoY.

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