A change in leasing standards fostered profits in Q4. For official Verdale floor plan pdf, project details, showflat appointment to be obtained by signing up your interest.
Ascott Residential Trust (ART) listed a 6 percent increase in gross profit at $252.6m in 2019, the company announced. Over precisely the same period, earnings remained flat at $514.9m.
In Q4, gross profit increased 3 percent YoY to $65.3m revenue dipped 2 percent to $134.1m. The earnings was dragged down by a 2.5m drop in donations from divesting Ascott Raffles Place Singapore and Somerset West Lake Hanoi.
However, the hope saw a rise in earnings for the quarter by adopting a new leasing standard, namely FRS 116 Leases, starting January 2019
ART’s daily earnings per available unit (RevPAU) fell 2 percent to $160 from weaker exchange rate in Q4. But, it frees up 1% to $152 for the complete year.
Its supply each stapled security (DPS) also climbed 6 percent YoY to $0.0227 at Q4, as the unitholders’ distribution expanded 6 percent to $49.3m. DPS for the complete year remained virtually unchanged at 6.4 cents.
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