SINGAPORE (Nov 13): The trustee-manager of Accordia Golf Trust has declared a 1H17/18 DPU of 1.65 cents compared to 2.45 cents in 1H16/17.
Operating income for the half came in at JPY 28.0 billion ($335.4 million), 2% more than JPY 27.4 billion.
The performance of the golf course was slightly better than previous year mainly due to the better weather.
Revenue was 1.5% higher at JPY 27.6 billion compared to JPY 27.2 billion a year ago.
Operating expenses increased 0.4% to JPY 2.3 billion, mainly due to increase in selling, general and administrative expenses for third party booking site.
Hence, earnings for the first half ended September came in at JPY 4.40 billion, 13.1% higher than JPY 3.89 billion in the previous year.
The trustee-manager says Accordia Golf Trust has been making efforts to expand to a more varied player base to generate stable cash flow and distribution.
Units in Accordia Golf Trust closed 1 cent lower at 76 cents on Monday.
