Ascendas India Trust (a-iTrust) on Thursday reported that Q2 distributable income rose to $14.1 million, up 3 per cent from the $13.8 million a year ago.
Distribution per unit (DPU) rose in Q2 FY 09/10 to 1.85 Singapore cents, up from 1.82 cents in the corresponding quarter last year.
The trust, which owns business space in India, said total property income increased by 2 per cent in to $30.4 million.
Total property expenses, on the other hand, was $11.2 million or 20 per cent lower due to lower operating, maintenance and security charges as a result of cost management (such as repackaging and retendering of contracts); and lower utilities expenses as the price of oil remained lower than a year ago.
As a result, net property income rose 22 per cent year-on-year in Q2 FY 09/10i to $19.2 million.
Looking ahead a-iTrust said that its performance will continue to be influenced by the performance of its tenants and conditions in the local real estate market.
‘a-iTrust.s net property income continued to grow despite the global downturn, because of the resilient demand for its properties and cost management,’ it said. ‘While the economic recovery remains fragile and uncertain, we will focus on what we can control – enhancing the competitive edge of our properties, strengthening relationships with our tenants, maintaining cost discipline, and seeking opportunities to invest in future growth.’
Source: Business Times, 22 Oct 2009
No comments:
Post a Comment