CapitaCommercial Trust posts flat distribution per unit of 2.04 cents in third quarter

CapitaCommercial Trust (CCT) has reported a distribution per unit (DPU) of 2.04 cents for the third quarter, unchanged from the same period a year ago.

For the three months ended Sep 30, its distributable income came in at $58.8 million, up 1.6 per cent from the $57.9 million posted in the same period last year

This was largely due to lower interest expenses and contributions from its 30 per cent-owned Malaysian unit, Quill Capita Trust.

The gross revenue of $94.9 million in the third quarter was marginally lower than the $95.5 million achieved last year

Higher revenue from Six Battery Road and Raffles City Singapore compensated for the lower income contribution from Capital Tower due to its lower occupancy, and for the cessation of yield protection income for One George Street from July 10.

CCT's portfolio occupancy rate was 97.6 per cent as at Sep 30.

The third quarter DPU, together with the DPU for the fourth quarter, will be paid out in February 2014 as CCT distributes semi-annually.