CapitaLand Ascott Trust's (SGX:HMN) gross profit was up 4% year over year in the first quarter of 2025, according to a filing with the Singapore Exchange on Monday.
Gross profit from new properties replaced gross profit lost from divestments in 2024.
Renovations of properties in 2024 also contributed to stronger performance during the period.
Portfolio occupancy stood at 77%, contributing to a 4% Revenue per available unit compared to the year-ago period.
Shares of the trust were down over 1% in recent trading.
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