Singapore

ACQUISITION of a New York hotel last year has helped lift Ascott Residence Trust's (Ascott Reit) topline for the first three months of financial year 2017, but weighed on its distribution per unit (DPU) and gross profit.

The absence of a one-off gain that was present in the corresponding period last year also contributed to the fall in Q1 2017's DPU, the Reit said in its earnings report released on Friday.