During the quarter, CLAS acquired one property and divested five.
The managers of CapitaLand Ascott Trust (SGX:HMN
) (CLAS) have reported a 15% y-o-y growth in gross profit for the 1QFY2024 ended March 31. The higher gross profit was due to stronger operating performance and contributions from the trust’s new properties. No figure was given in CLAS’s update for the first quarter.
Excluding acquisitions and divestments, gross profit rose by 7% y-o-y on a same-store basis due to stronger operating performance.
