Higher rentals lift CCT's Q1 distribution per unit to 1.96 cents

CAPITACOMMERCIAL Trust's (CCT) distributable income rose for the first quarter, as it received higher rents from its office buildings.

Distribution income for the three months to Mar 31 increased 3.3 per cent from a year earlier to $55.7 million.

The trust's distribution per unit for the quarter was up 3.2 per cent to 1.96 cents from a year earlier.

CCT said that this was mainly due to higher contributions from Twenty Anson building which was acquired in March last year, and higher rents collected from HSBC Building.

Earnings per unit for the quarter came in at 1.9 cents, up from 1.76 cents the same period a year ago.

Net asset value per unit was $1.64 for the three months to Mar 31, down from $1.66 a year earlier.