Ascott Residence Trust Q4 DPU flat at 2.04 cents

Singapore

ASCOTT Residence Trust posted a distribution per unit (DPU) of 2.04 Singapore cents for the fourth quarter ended Dec 31, 2017, flat from the corresponding period a year ago due in part to a rights issue which took place last year.

Adjusting for a one-off realised exchange gain, the effects of the rights issue in March last year, contributions from Ascott Orchard Singapore as well as a divestment gain, DPU would have actually gone up by 7 per cent to 2.07 cents.

Revenue for the quarter under review rose 6 per cent to S$134.48 million, boosted by contributions from acquisitions made last year, while gross profit was up 6 per cent to S$61.78 million, in line with higher revenue. New properties were acquired last year in Frankfurt, Hambu…