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Ascott Residence Trust almost doubles H1 DPS to 2.05 S cents despite 11% revenue drop

Jude Chan

Published Tue, Jul 27, 2021 · 08:56 AM

CAPITALAND subsidiary Ascott Residence Trust (ART) HMN : HMN 0%on Tuesday reported a 95 per cent increase in its distribution per stapled security (DPS) to 2.05 Singapore cents for the first-half ended June 30, from 1.05 cents for the year-ago period.

However, the increase was mainly due to one-off gains in distributable income.

Revenue fell 11 per cent to S$185 million, on the back of a S$13.1 million decline in revenue from the divestment of six properties. Further, a S$14 million drop in revenue was recorded from its existing portfolio from the impact of the ongoing Covid-19 pandemic.

These losses were offset partially by a S$3.6 million contribution from the acquisition of Paloma West Midtown in February this year, three rental housing properties in Japan in…