The Ascott Group’s revenue in 3Q 2007 was S$116.5 million, a 17% increase over the revenue in 3Q 2006. Net profit on operating assets also grew 4% to S$12.7 million, attributed to better operating performances in most clusters as well as higher fee-based income from managing Ascott Residence Trust (ART) and Ascott China Fund.

The Group’s operating earnings before interest, taxation, depreciation and amortization also recorded a 16% jump from S$27.6 million in 3Q 2006 to S$31.9 million in 3Q 2007.

Separately, ART achieved a unitholders’ distribution of S$12.0 million for the period 1 July 2007 to 30 September 2007, a 84% increase over the same period last year. Distribution per unit for the same period was 1.99 cents, an increase of 39% over 3Q 2006. This was also 9% higher than the forecast of 1.82 cents.