Key Points
- Distribution per unit (DPU) for the period is 2.16 cents.
- Ascott Reit’s revenue for 4Q 2010 increased by S$26.7 million to S$72.8 million, an increase of 58% compared to 4Q 2009.
- Gross profit was S$39.3 million, 80% higher than 4Q 2009.
- The increase in revenue and gross profit were mainly due to the contribution of S$30.3 million and S$19.2 million respectively from the 28 properties acquired by Ascott Reit on 1 October 2010, partially offset by the decrease in revenue and gross profit of S$4.6 million and S$1.6 million respectively from the divestment of Ascott Beijing and Country Woods Jakarta.
- On 13 September 2010, ARTML launched an equity fund raising by way of a private placement and non-renounceable preferential offering. In order to ensure fairness to holders of Ascott Reit units prior to the issuance of the private placement new units, ARTML declared, in lieu of the scheduled distribution, an advanced distribution of the distributable income for the period from 1 July 2010 up to 21 September 2010, the day immediately prior to the date on which the private placement new units were issued.
- The advanced distribution of 1.74 cent per unit was paid on 19 November 2010. The next distribution therefore will comprise the distributable income from 22 September 2010 to 31 December 2010. Semi-annual distributions will resume thereafter.
- DPU for the period from 22 September 2010 to 31 December 2010 is 2.27 cents.
- Book Closure Date is on 31 January 2011.
- Payment Date is on 28 February 2011.
- Gearing of 40.3% as at 31 December 2010.
The DPU for the period from 1 Oct 2010 to 31 Dec 2010 is 2.16 cents. The actual distribution for this round will be 2.27 cents as it will include DPU for the period from 22 Sep 2010 to 30 Sep 2010. DPU of 2.27 cents will be paid on 28 Feb 2011. Book closure is on 31 Jan 2011.
The DPU was 1.85 cents in the previous quarter.
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