Accordia Golf Trust's DPU falls to 1.48 cents in Q4

ACCORDIA Golf Trust's distribution per unit (DPU) fell to 1.48 Singapore cents in the fourth quarter, from 1.96 Singapore cents in the same period a year ago,

Operating income for the trust, which owns golf course assets in Japan, slipped 5.1 per cent to 9.91 billion yen (S$122.8 million) due to heavy snowfall in Nagoya and Osaka, which forced some golf courses to close for operation, and the absence of income refund seen during the year-ago period.

Net loss worsened to 2.79 billion yen, from a net loss of 744 million yen in the year-ago period, the group said in a Singapore Exchange filing on Thursday evening.

Accordia Golf Trust Management said the Japanese golf market continues to remain stable with the support of weekdays play demand from senior players.