Forterra Trust sinks into the red in Q3

FORTERRA Trust sank to a net loss of $2.3 million for the third quarter ended Sept 30, 2013, from a $8.8 million net profit a year ago.

The loss attributable to unit-holders translated to loss per unit of 0.9 cent, against earnings per unit of 3.5 cents a year earlier.

Its divestment of Central Plaza in May, as well as the moving out of retail tenants for the refurbishment of its flagship project in Shanghai, The HQ, led gross revenue to fall 25 per cent to $18.3 million.