- CapitaLand China Trust (SGX:AU8U) reported a 3.9% and 5.8% y-o-y decline in gross revenue and net property income (NPI) to RMB1,837mil and RMB1,219mil, respectively.
- - Read this at SGinvestors.io -
FY24 results below estimates.
- Distribution income declined a further 15% y-o-y to S$96.8mil due to an added layer of foreign translation losses. CapitaLand China Trust's DPU for FY24 declined ~16% to 5.65 cents – below both DBS and consensus estimates.
Retail a stable anchor within the portfolio.
- Retail portfolio continues to be the anchor amidst stormy seas, with NPI performance up 1.9% y-o-y on a same-store basis and boosted by stronger performance at three malls post AEI completion, where a ~14% boost to NPI offset the performance of weaker malls.
- - Read this at SGinvestors.io -
- Retail occupancy was the best across the asset classes, improving 30bps q-o-q to 98.2%, with average signing reversions of - 1.1%.
New economy continues to see bright spots amidst a softer trading environment.
- Read more at SGinvestors.io.
