Lower logistics and business park contributions lead to a 4.9% NPI drop for CLCT

Gains in the retail portfolio offset the decline.

CapitaLand China Trust (CLCT) saw its net property income (NPI) drop by 4.9% YoY to RMB631.3m ($116.8m) in H1 2024.

The trust cited lower logistics and business park contributions for the decline, offset by gains in the retail portfolio and decreased net financing costs.

In 1H 2024, the NPI of CLCT’s retail assets grew 0.3% YoY.

Despite a lower NPI, the trust declared a 0.3% higher distribution per unit (DPU) of $0.0301 compared to H2 2023.

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