Accordia Golf's DPU 9.6% below forecast on weaker yen

Singapore

IN its maiden earnings release since its initial public offering, Accordia Golf Trust (AGT) posted a distribution per unit (DPU) of 3.91 Singapore cents for the period from Aug 1 to Dec 31, 2014. This was 9.6 per cent lower than its forecast of 4.32 Singapore cents due to the weakening Japanese yen.

Distributable income of 3.9 billion yen (S$44 million) exceeded its forecast by one per cent, buoyed by an increase in non-recurring cash flows.