Ascott Reit DPU up 9% in Q1 on acquisitions, forex gains

Singapore

ASCOTT Residence Trust (Ascott Reit) saw distribution per unit (DPU) rise 9 per cent to 1.28 Singapore cents for the first quarter ended March 31, after adjustment for one-off items, in results released yesterday.

This was up from the restated DPU of 1.17 Singapore cents in the same period a year before, following a rights issue in April 2017. The gain came as unitholders' distribution rose 16 per cent to S$29.2 million.

This was on the back of contributions from acquisitions in 2017 and a realised exchange gain of S$1.6 million arising from divestment proceeds from two serviced residences in Shanghai and Xian in China, as wel…