Accordia Golf Trust posts Q3 DPU of 2.22 S cents

ACCORDIA Golf Trust on Thursday posted a distribution per unit (DPU) of 1.79 yen (2.22 Singapore cents) for its fiscal third quarter ended Dec 31, up from 1.57 yen in the year-ago period. 

The DPU in Singapore currency terms was calculated based on the Japanese yen/Singapore dollar conversion rate of 80.72 as at Dec 31, 2019, Accordia Golf Trust said.

Income available for distribution to unitholders came in at two billion yen (S$25.3 million) for the quarter, from 1.7 billion yen in the previous year. 

No distribution was declared for the current financial period as Accordia Golf Trust makes distributions on a semi-annual basis. 

The trust, which comprises investments in golf course assets in Japan, saw a 14.2 per cent drop in third-quarter net profit to 2.8 billion yen, down from 3.2 billion yen in the previous year. 

Revenue was down 3.1 per cent to 13.9 billion yen, from 14.4 billion yen a year earlier.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Operating income slipped 3.8 per cent to 14.1 billion yen, from 14.6 billion yen a year ago, due to a slight decline in the number of players, largely arising from the impact of Typhoon Hagibis in October 2019. 

As at 9.09am on Friday, Accordia Golf Trust units were trading at S$0.675, up S$0.01 or 1.5 per cent.