ARA's Q4 profit up on higher management fees, lower expenses

Singapore

REIT manager ARA Asset Management on Thursday said net profit for the fourth quarter rose 41 per cent, mainly on higher management fees and finance income, as well as lower expenses.

Net profit for the three months ended Dec 31, 2015 stood at S$25.6 million, compared to S$18.2 million a year ago. This translated to earnings per share of 2.88 Singapore cents, compared to a restated 2.10 Singapore cents.