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.

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.