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CapitaLand Ascott Trust's H1 Distributable Income Rises 11%

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CapitaLand Ascott Trust (SGX:HMN) reported an 11% increase in first-half income available for distribution to SG$107 million, according to a Tuesday Singapore Exchange filing.

Revenue fell 7% annually to SG$371 million, and gross profit declined 11% to SG$161.6 million, reflecting portfolio reconstitution, asset enhancement initiatives and acquisition and divestment timing.

The trust retained SG$9.6 million of non-periodic gains, resulting in total distribution of SG$97.5 million, up 1% year over year. It expects renovated assets and the opening of Somerset Clarke Quay Singapore in early 2027 to support future income growth.

CapitaLand Ascott Trust declared an unchanged first-half distribution of SG$0.0253 per stapled security, payable on Aug. 28 to unitholders on record as of Aug. 5.

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