Wednesday, January 18, 2012

Acquisitions lift A-Reit's Q3 DPU by 5.8%

Business Times: Wed, Jan 18
ASCENDAS Real Estate Investment Trust (A-Reit) saw better results for its third quarter ended Dec 31, 2011, on the back of increased rental income arising from the completion of projects and acquisitions since December 2010.

Gross revenue for the quarter climbed 15.7 per cent year-on-year to $127.3 million as rental from acquisitions rolled in. Net property income rose to $93.9 million, up 11.6 per cent from the year before.

Total amount of income available for distribution also jumped 17.4 per cent to $72.5 million. As a result, distribution per unit (DPU) for Q3 came in at 3.48 cents, 5.8 per cent higher than the 3.29 cents a year earlier...

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