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New properties lift Ascott Reit's Q2 DPU by 5%

Published on Jul 21, 2014 9:22 PM

SINGAPORE - Contributions from newly-acquired properties helped lift Ascott Reit's results for the second quarter.

Distribution per unit (DPU) for the three months to June 30 was up 5 per cent at 2.19 cents, after adjusting for the impact of a rights issue in December, said Ascott Residence Trust Management, the manager of the hospitality trust, on Monday.

Revenue for the second quarter came in 14 per cent higher at $88.1 million from the corresponding period a year ago, on the back of an extra $9.4 million from its new acquisitions such as Somerset Heping Shenyang, Citadines Biyun Shanghai and the Infiniti Garden rental housing property in Fukuoka.

However, the sale of strata units at its Somerset Grand Fortune Garden in Beijing hit the trust's topline by $1.1 million after operations stopped at the property, said the manager.

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