CapitaLand Ascendas Reit posts 0.6% drop in H1 DPU to 7.477 Singapore cents

[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.