Ascott Residence Trust (Ascott REIT) recorded higher revenues of $77.4 million for 3Q2012 ended September, an increase of 6% y-o-y. Distributable income increased 1% to $25.6 million, while distribution per unit (DPU) reached 2.24 cents. Ascott attributes the higher revenues to Citadines Shinjuku Tokyo and Citadines Karasuma-Gojo Kyoto. The trust''s serviced residences in China and the UK also contributed to revenues and revenue per available unit. It projects better earnings going forward due to the addition of Ascott Raffles Place Singapore, Ascott Guangzhou and Madison Hamburg to its portfolio.
No comments:
Post a Comment