Accordia Golf Trust announced audited consolidated earnings results for the year ended March 31, 2018. For the year, the company reported operating income of JPY 51,450 million against JPY 51,919 million a year ago. Revenue was JPY 50,860 million against JPY 51,533 million a year ago. Operating profit was JPY 6,071 million against JPY 6,572 million a year ago. Profit before tax was JPY 4,468 million against JPY 4,914 million a year ago. Profit for the period attributable to unitholders of the company was JPY 4,095 million or JPY 3.73 per share against JPY 4,000 million or JPY 3.64 per share a year ago. Net cash flows from operating activities were JPY 8,364 million against JPY 8,590 million a year ago. Acquisition of property, plant and equipment was JPY 2,230 million against JPY 1,660 million a year ago. Acquisition of intangible assets was JPY 114 million against JPY 1 million a year ago. Net asset value attributable to Unitholders per unit was JPY 72.61 against JPY 73.04 as at March 31, 2017. Net debt was JPY 49,889 million against JPY 48,291 million a year ago.