- CapitaLand Ascott Trust reported 2H DPU of S$3.58 cents, -0.8% y-o-y. FY25 CapitaLand Ascott Trust's DPU was stable at S$6.1 cents. Core FY25 DPU was S$5.35 cents, -2.6% y-o-y.
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Occupancy led growth
- CapitaLand Ascott Trust reported 2H revenue and gross profit of S$439.1m and S$202.8m, +3.8% and +2.4% y-o-y, respectively. FY revenue and NPI of S$837.6m and S$385.3m, +3.5% and +3.9% y-o-y, respectively.
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- 2H RevPAU grew 2.4% y-o-y (4Q +2% to S$180) to S$171, led by occupancy (estimated 2H 82.5% vs 80.0% prior year). For the full year, portfolio RevPAU was +3% y-o-y to S$161, led by occupancy (80% vs 77% in 2024).
- Barring UK, on a same-store basis, FY RevPAU was flat to stable for key markets. Singapore 4Q RevPAU grew 8% y-o-y to S$193 led by events (F1). Gross profit margin improved y-o-y, excluding tax adjustments.
Focus on portfolio reconstitution
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