ART – BT

Ascott Reit’s Q3 DPU down 4%

ASCOTT Residence Trust (Ascott Reit) has announced a distribution per unit of 1.85 cents for 3Q10, down 4 per cent from 1.92 cents in 3Q09. Excluding the private placement tranche of 419.66 million new units which were issued to partly fund the acquisition of 28 properties in Singapore, Vietnam and Europe, the DPU for 3Q10 would be 1.93 cents. Revenue rose 5 per cent year-on-year to $46.48 million while unitholders’ distribution rose one per cent to $11.95 million. Gross profit fell 4 per cent to $21.12 million, compared to 3Q09.