Ascott Residence Trust posted unit holders distribution of S$14.2m

Mainboard-listed Ascott Residence Trust (ART) has posted a first quarter distributable income of S$14.2 million, up 76 per cent compared to the same period a year ago.

ART said it benefited from higher demand for accommodation from business travellers in the region.

And going forward, it expects to see stable growth as it maintains a balance of properties in both developed and emerging markets in the Pan-Asian region.

For the first quarter ended 31 March, distribution per unit is 2.33 cents, up from 1.59 cents in the same period a year ago. – CNA/vm

Source : Channel NewsAsia – 23 Apr 2008

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