Office landlord CapitaLand Commercial Trust has reported a distribution per unit (DPU) of 2.08 Singapore cents for its 4Q 2017, a fall of 13.0% from the 2.39 cents achieved in the corresponding period of 2016.

Gross revenue and net property income (NPI) for the period fell by 3.8% and 4.0% to SGD86.3 million (USD65.9 million) and SGD68 million respectively, while distributable income increased by 6.0% to SGD75 million.

Subsequently the REIT’s FY 2017 gross revenue increased by 13.0% year-on-year to SGD337.5 million while NPI grew by 14.8% to SGD265.5 million, and full-year DPU declined by 4.6% to 8.66 cents.

After adjusting for effects of new units issued in an equity raising exercise in 2017, DPU for 4Q 2017 and FY 2017 would have been increases of 6.1% and 5.0% respectively.

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