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.

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