Ascott Reit's Q3 DPU at three-year high
Revenue rises 9% to S$123.9m and gross profit grows 4% to S$57.5m, thanks to acquisition of properties in 2015 and this year
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HOLDING up a sterling report on Thursday, Ascott Residence Trust (Ascott Reit) said its distribution per unit (DPU) for the third quarter ended Sept 30 rose 14 per cent from a year ago to 2.35 Singapore cents, the highest DPU recorded in the past three years.
Unitholders' distribution grew 21 per cent to S$38.7 million, the highest distribution recorded in a quarter since the Reit was launched 10 years ago. This came on the back of realised exchange gain of S$3.3 million from the repayment of foreign currency bank loans with the divestment proceeds from Fortune Garden Apartments.
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