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CapitaLand Investment Limited ( (SG:9CI) ) just unveiled an update.
CapitaLand Ascott Trust reported an 8% increase in gross profit for the second half of 2024, driven by strong operating performance and strategic acquisitions. Revenue also grew by 6% year-on-year, reaching S$423.2 million. The trust’s proactive asset management and asset enhancement initiatives contributed to this growth, despite challenges like foreign exchange fluctuations and rising financing costs. CLAS’s commitment to stable distributions and long-term growth is demonstrated through its strategic focus on portfolio strengthening and earnings enhancement. The increase in revenue per available unit, particularly in key markets like Japan, Australia, Singapore, and the UK, underscores the recovery in international travel demand, surpassing pre-pandemic levels.
More about CapitaLand Investment Limited
CapitaLand Ascott Trust (CLAS) operates in the real estate industry, focusing on investments in hospitality properties. Its portfolio is diversified across international markets, providing accommodation services primarily through hotels, serviced residences, and rental housing. CLAS aims to create value for its Stapled Securityholders through both organic and inorganic growth strategies.
YTD Price Performance: -6.87%
Average Trading Volume: 9,209,166
Technical Sentiment Consensus Rating: Buy
Current Market Cap: S$12.5B
For an in-depth examination of 9CI stock, go to TipRanks’ Stock Analysis page.
