Accordia Golf Trust Q3 DPU down 3.2% to 2.09 Singapore cents

ACCORDIA Golf Trust's distribution per unit (DPU) fell 3.2 per cent to 2.09 Singapore cents in the third quarter, as operating income and distributable income dropped on poorer golf course performance and higher operating expenses.

The trust, which owns golf course assets in Japan, saw operating income slip 2.5 per cent from a year ago to 14.6 billion yen (S$182 million) as the warm weather during winter season in the previous year had bumped up golf course revenue.

Total distributable income available in turn slumped 8.1 per cent to 1.86 billion yen.

The trust manager said that the Japanese golf market continues to remain stable with the support of demand for weekday play from senior players.