Accordia Golf Trust misses IPO forecast with lacklustre maiden results
The group raked in $58.9m from August to December.
Accordia Golf Trust’s maiden results missed its IPO forecasts due to weaker operating performance brought about by unusual weather conditions.
AGT’s operating profit stood at $58.9m (JPY 5.2b) for the reporting period from August to December, 3.6% lower than IPO forecasts of $61.2m (JPY5.4b).
The income available for distribution is $44.2m (JPY 3.9b), 1% higher than the forecast. The income available for DPU in Singapore dollar for the Period, however, was recorded at 3.91 Singapore cents, 9.6% lower than the initial forecast, mainly due to the weakening of the Japanese Yen