CCT distributable income up 1.6% in 3Q13

Thanks primarily to lower interest expenses.

CapitaCommercial Trust (CCT) reported 3Q13 distributable income of S$58.8m – 1.6% higher YoY, which according to OCBC cumulates to a 9M13 distributable income of S$174.0m, up 2.2% YoY and is within the research firm's expectations.

With the 3Q13 results, the CCT's 9-month year-to-date distributable income make up 75.9% of OCBC's FY13 forecast. 3Q13 DPU is 2.04 S-cents which translates to a 5.7% distribution yield based on the last closing price of S$1.42.

"The growth in 3Q13 distributable income was mainly due to lower interest expenses and the distribution of S$1.7m in tax-exempt distributable income from Quill Capita Trust, which offset the impact from the loss of income support from One George St. Portfolio occupancy edged up to 97.6% as at end 3Q13, versus 95.8% in the previous quarter," said OCBC in analyzing the results.

"In addition, as a result of continued rental reversions, CCT’s average committed office portfolio rentals increased to S$8.03psf from S$7.96psf," it added.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit