Ascott's Q3 DPU drops 11% on one-off items, rights issue

Singapore

ASCOTT Reit on Thursday reported a distribution per unit (DPU) of 2.11 Singapore cents for the third quarter ended Sept 30, 2014 - an 11 per cent drop from the 2.37 Singapore cents paid a year ago, which included one-off items of about S$1.5 million.

If the one-off items (which had to do with fair value gains from the unwinding of interest rates swaps) and Ascott Reit's rights issue in Dec 2013 were excluded, the DPU would have been 15 per cent higher, it said.

Revenue rose 9 per cent to S$93.7 million due to the additional income of S$8.5 million from new properties acquired in 2014, and stronger contributio…