CapitaLand Ascott Trust (ATTRF), a real estate investment trust specializing in hospitality properties, on Wednesday reported a 1% year-on-year increase in gross profit for the third quarter, supported by stronger operating performance, portfolio reconstitution, and asset enhancement initiatives (AEI).
On a same-store basis, excluding the impact of acquisitions and divestments, gross profit declined 2%, primarily reflecting a one-off land tax adjustment associated with a property in Australia.
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