A-reit's Q2 distributable income up 14% to S$100.2 million

SINGAPORE - Ascendas Real Estate Investment Trust (A-Reit) reported that second-quarter earnings grew 14 per cent on Thursday.

Distributable income for the three months to Sept 30 was $100.2 million.

Mr Tan Ser Ping, chief executive of A-Reit's manage, said: "Despite the challenging operating environment, A-Reit achieved a creditable performance in the second quarter of the financial year."

He noted that net property income rose year-on-year with contributions from new acquisitions, completed renovations, and higher rental reversion and occupancy.

He added that the firm will soon complete a proposed Australian acquisition, which will further diversify its portfolio and "enhance value for unitholders".

rachaelb@sph.com.sg