CapitaCommercial Trust distributable income up 4.8% for 3Q

CapitaCommercial Trust Management Limited, the manager of CapitaCommercial Trust (CCT), reported a 4.8 per cent rise in distributable income of $61.6 million for the quarter ended 30 September 2014 from the $58.8 million achieved in the same period a year ago.

The increase was largely due to strong performance in the Trust's gross revenue and net property income which rose by 8.4 per cent and 8.6 per cent respectively.

The estimated distribution per unit (DPU) of 2.10 cents for 3Q 2014, together with the DPU for the fourth quarter of 2014, will be paid out in February 2015 as CCT distributes semi-annually.

Based on CCT's closing price per unit of $1.625 on 23 October 2014, CCT's distribution yield is 5.2 per cent.