
Ascott Residence Trust's gross profit up 10% to $43.1m in Q1
On back of its acquisitions.
Ascott Residence Trust reported that its gross profit grew 10% year-on-year to $43.1m in the first quarter, due mainly to its slew of acquisitions in 2014.
Revenue grew 12% to $90m, while distributable income inched up 1% to $27m. Distribution per unit was relatively flat at 1.76 cents.