Ascott REIT's gross profit up 6% to $49.4m in Q2

Thanks to contributions from acquisitions.

Ascott REIT reported that its gross profit grew 6% year-on-year to $49.4m, on back of contributions from new acquisitions.

Revenue rose 12% to $98.7m, while distribution per unit increased by 5% to 2.09 S cents.

However, revenue per available unit (RevPAU) declined by 6% to $129 per day, mainly because of weaker performance from its properties in Singapore and the Philippines as well as lower average daily rate from the China properties acquired in 2014.