Ascott Orchard Singapore (Photo: Ascott REIT)

Ascott Residence Trust (Ascott REIT) has reported a distribution per unit (DPU) of 1.82 Singapore cents for its 3Q 2018, an increase of 8% over the 1.69 cents achieved in the corresponding period of 2017.

The REIT’s distributable income also increased by 8% year-on-year to SGD39.4 million (USD28.5 million).

Correspondingly, Ascott REIT’s revenue grew 6% year-on-year to SGD134.5 million, while gross profit increased 9% to S$64.2 million.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.