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Ascott Reit Q2 DPU dips 5%

Best Western Shinjuku Hotel in Tokyo, acquired in October 2014, was one of the nine properties Ascott Reit acquired in 2014.

ASCOTT Residence Trust posted a 5 per cent dip in distribution per unit (DPU) to 2.09 Singapore cents for the second quarter ended June 2015 from 2.19 Singapore cents a year ago.

Excluding one-off items over the second quarter of the previous year, DPU would have come in 5 per cent higher.

The Reit turned in a 12 per cent rise in revenue to S$98.7 million for the period under review which was led by addition revenue from properties acquired in 2014.

In line with that, gross profit rose 6 per cent to S$49.4 million.

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