Ascott Residence Trust almost doubles H1 DPS to 2.05 S cents despite 11% revenue drop
CAPITALAND subsidiary Ascott Residence Trust (ART) HMN : HMN 0%on Tuesday reported a 95 per cent increase in its distribution per stapled security (DPS) to 2.05 Singapore cents for the first-half ended June 30, from 1.05 cents for the year-ago period.
However, the increase was mainly due to one-off gains in distributable income.
Revenue fell 11 per cent to S$185 million, on the back of a S$13.1 million decline in revenue from the divestment of six properties. Further, a S$14 million drop in revenue was recorded from its existing portfolio from the impact of the ongoing Covid-19 pandemic.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
The architect who made Singapore’s public housing the envy of the world
Stamp duty takings slip in FY2023 while property tax revenue swells
Businesses in DC blame the government for the district’s empty offices
Hong Kong home prices drop to erase gains after property tax cut
Swedish housing starts show signs of bottoming out on rate cuts
Soaring towers shape Hong Kong's urban landscape