Ascott Residential Trust's profits up 6% to $252.6m in 2019

A change in leasing standards boosted profits in Q4.

Ascott Residential Trust (ART) recorded a 6% growth in gross profit at $252.6m in 2019, the company announced. Over the same period, revenue remained flat at $514.9m.

In Q4, gross profit climbed 3% YoY to $65.3m whilst revenue dipped 2% to $134.1m. The revenue was dragged down by a $2.5m decline in contributions from divesting Ascott Raffles Place Singapore and Somerset West Lake Hanoi.

Also read: Ascott REIT's profits up 1% to $65.05m in Q3

However, the trust saw a rise in profits for the quarter from adopting a new leasing standard, namely FRS 116 Leases, starting January 2019

ART's daily revenue per available unit (RevPAU) declined 2% to $160 from weaker exchange rate in Q4. However, it edged up 1% to $152 for the full year.

Its distribution per stapled security (DPS) also rose 6% YoY to $0.0227 in Q4, as the unitholders’ distribution expanded 6% to $49.3m. DPS for the full year remained virtually unchanged at 6.4 cents.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.