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Ascott Residence Trust anticipates 75% plunge in distribution per stapled security for 1H20 following 'extensive global travel restrictions'

Felicia Tan
Felicia Tan7/13/2020 11:01 AM GMT+08  • 2 min read
Ascott Residence Trust anticipates 75% plunge in distribution per stapled security for 1H20 following 'extensive global travel restrictions'
The manager of Ascott Residence Trust (ART) says it is expecting its financial performance to be “adversely impacted” for 1H20 due to the global travel restrictions brought about by the Covid-19 pandemic.
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SINGAPORE (July 13): The manager of Ascott Residence Trust (ART) says it is expecting its financial performance to be “adversely impacted” for 1H20 due to the global travel restrictions brought about by the Covid-19 pandemic.

In a profit guidance announcement on Monday, ART expects to reduce its income for distribution by 55% to 65% in 1H20, from the $74.6 million recorded in 1H19.

Its distribution per stapled security is expected to decline by 65% to 75% from the 3.43 cents in 1H19.

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