Wednesday, July 23, 2008

CCT Achieves 22.7% H1 DPU Growth

Source : The Business Times, July 23, 2008

CapitaCommercial Trust Management Limited, the manager of CapitaCommercial Trust (CCT), on Wednesday reported that CCT has achieved a distributable income of S$71.9 million for the six months ended June 30, 2008.

This translates to a distribution per unit (DPU) of 5.19 cents, outperforming H1 2007 DPU of 4.23 cents by 22.7 per cent. The results were underpinned by Singapore's steady office demand, and exceeds the manager's forecast by 4.2 per cent.

The annualised H1 2008 DPU of 10.44 cents would provide a distribution yield of 5.5 per cent based on the closing price of S$1.91 per unit on July 22, 2008.

CCT's distributable income for the H1 2008 of S$71.9 million is S$2.9 million or 4.3 per cent higher than the forecast distributable income for the same period.

The books closure date to determine the entitlement to the H1 2008 DPU of 5.19 cents is Aug 1, 2008 and unitholders of CCT can expect to receive their distribution payment by Aug 28, 2008.

'Given Singapore's attractiveness as a global city and tight office supply, we are confident of exceeding our forecast distribution per unit of 10.61 cents for the financial year ending 2008.' Richard Hale, Chairman of the manager said. -- BT Newsroom

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