Ascott Residence Trust Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Announces Assets Written Off for the Fourth Quarter of 2015; Provides Earnings Guidance for the Fiscal Year 2016
For the year, the company reported revenue of SGD 421.1 million compared to SGD 357.2 million, total return before tax of SGD 215.8 million compared to SGD 167.3 million, total return attributable to unit holders /perpetual securities holders of SGD 165.2 million or 9.85 cents per basic and diluted share compared to SGD 122.5 million or 7.92 cents per basic and diluted share for the last year. Cash flows from operating activities was SGD 177.5 million compared to SGD 152.6 million, acquisition of plant and equipment was SGD 11.5 million compared to SGD 9.8 million and acquisition of serviced residence properties, net of cash acquired was SGD 418.8 million compared to SGD 428.4 million for the last year. NAV per unit was SGD 1.41 as at December 31, 2015 compared to SGD 1.37 per unit as at December 31, 2014.
The company announced assets written off of SGD 3.6 million for quarter compared to SGD 9.2 million in the last year.
The group's operating performance for fiscal year 2016 is expected to remain profitable.