Ascott Residence Trust (Ascott REIT) has announced a distributable income of S$22.8 million for the 4Q12. This represents an increase of 10% from a year ago. Ascott REIT has also posted distribution per unit (DPU) of 2 cents for the quarter. This represents a jump of 9% from 1.83 cents for the same period last year.
|Ascott REIT's rise in revenue for the full year has been partly attributed to a stronger performance from its serviced residences.
Revenue for 4Q12 was flat at S$75.9 million but ended up 5% higher for Y2012 at S$303.8 million. This rise in revenue has been attributed to its stable of newly acquired properties in China, the United Kingdom and the Philippine and a stronger performance from its serviced residences.