REIT Financial News - 16 APR 2010: Quarterly Earnings Report for CCT

First quarter results for CCT:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• Latest Quarterly DPU is 1.93 cents, a year-on-year increase of 19.1% from the 1.62 1 cents achieved in 1Q 2009.
• Higher rental contribution from the Trust’s properties and improved property margins contributed in part to the strong distributable income growth. 
• Gross revenue registered a year-on-year increase of 4.5% to S$101.8 million while net property income increased year-on-year by 11.0% to S$77.6 million.      
• Lower interest expense as a result of reduced borrowings in 1Q 2010
  compared with 1Q 2009 also augmented the growth in the Trust’s distributable income.

Author's Note
There will be no distribution payment this quarter as CCT distributes semi-annually. The DPU of 1.93 cents will be paid in the next quarter together with the DPU for the next quarter.