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ARA Asset Management posts 36% increase in Q2 net profit

Published on Aug 4, 2014 8:18 PM

SINGAPORE - ARA Asset Management, which manages real estate investment trusts and (reits) private real estate funds, posted a 36 per cent rise in second quarter net profit to $20.8 million.

Revenue was up 17 per cent at $40.4 million for the three months to June 30.

For the half year, net earnings grew 20 per cent to $38.6 million on the back of a 23 per cent rise in revenue to $78.6 million.

Recurrent management fees for the quarter went up by 6 per cent to $31.3 million, driven mainly by higher reit management fees from better asset performance.

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