Wednesday, April 18, 2012

A-Reit full-year DPU up 2.5%

Business Times: Wed, Apr 18
A SET of decent results for its final quarter capped off an eventful financial year for Ascendas Real Estate Investment Trust (A-Reit).

Gross revenue for the quarter ended March 31 jumped 19 per cent year on year to $134.4 million, mainly due to the acquisitions of Cintech I, Cintech II and Cintech III & IV in March this year, as well as new projects such as FoodAxis@Senoko that were completed.

Consequently, net property income rose 13.2 per cent over the same period to $95.1 million.

The total amount available for distribution rose 19 per cent to $72.9 million, translating to a distribution per unit (DPU) of 3.50 cents...

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