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Ascott Reit posts DPU of 2.37¢ for Q3, up 6%

Revenue up 11% due to contributions from 17 properties in China, Germany, Japan, S'pore

Singapore

ASCOTT Residence Trust (Ascott Reit) recorded better-than-expected results for the third quarter ended September, with distribution per unit (DPU) rising 6 per cent to 2.37 cents, up from 2.24 cents a year ago.

This was on the back of a 17 per cent surge in distributable income to $30 million, from $25.6 million a year ago.

For the nine months ended September, DPU came to 7.07 cents, putting Ascott Reit ahead of full-year street estimates of nine cents; OCBC Investment Research's full-year...

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