ARA posts 7% rise in half-year net profit to $36.5 mil

SINGAPORE (Aug 2): ARA Asset Management posted a 9% rise in 1H16 earnings ended June to $38.7 million from $35.4 million a year ago.

Excluding one-off adjustments, net profit grew 7% to $36.5 million. Revenue rose 10% to $81.6 million.

Recurrent management fees for 1H16 grew 10% to $68 million, underpinned by the growth in REIT management fees, portfolio management and service fees as well as real estate management fees.

---

Related Stories

• Suntec REIT raises $94.4 mil in Suntec City strata sales to lower gearing
• Suntec REIT’s manager raises $94.4 million in strata sales at Suntec, prefers divestments to EFR to lower gearing
• For S-REITs, acquisitions and hints of acquisitions have undermined prices

---