CapitaLand Ascendas Reit posts 0.6% drop in H1 DPU to 7.477 Singapore cents
H1 revenue down 2% at S$754.8 million, mainly due to divestment of five properties
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[SINGAPORE] The distribution per unit (DPU) for industrial property player CapitaLand Ascendas Reit (Clar) fell 0.6 per cent for the half-year ended June to S$0.07477, on the back of an enlarged unit base.
The unit base of the Reit (real estate investment trust) grew 0.7 per cent year on year to around 4.4 billion units during a private placement in May this year to fund acquisitions.
Clar posted a lower H1 revenue, which was down 2 per cent year on year at S$754.8 million. This was mainly due to the divestment of five properties in Australia, Singapore and the US, as well as the decommissioning of a property in the UK for redevelopment in June 2024.
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