Company Briefs: Ascendas Hospitality Trust

Ascendas Hospitality Trust

Ascendas Hospitality Trust has posted $15.4 million in distributable income for the fourth quarter, up 10.2 per cent from a year earlier, on higher net property income as well as proceeds from the divestment of Pullman Cairns International.

Net property income in the three months to March 31 was $23.4 million, up 3.5 per cent, due mainly to better margins from the Australia and China portfolios and the contribution of variable rent from Hotel Sunroute Ariake.

However, gross revenue fell 3 per cent to $52.9 million, due to lower contributions from the Pullman & Mercure Brisbane King George Square and Park Hotel Clarke Quay, compounded by a weaker Australian dollar against the Singdollar.

Fourth-quarter distribution per share was 1.3 cents, up from 1.25 cents a year ago.

As a result, distribution per share for the full year rose 6.9 per cent to 5.41 cents, from 5.06 cents a year ago.


Hyflux

Hyflux has posted a net profit of $7.3 million in the first quarter, up 30 per cent from a year ago.

Revenue in the three months to March 31 was $248.3 million, up from $60.4 million a year earlier, due mainly to the TuasOne waste-to-energy project and the Qurayyat independent water project in Oman.

First-quarter loss per share after adjusting for dividends on perpetual preference shares and perpetual capital securities was 0.64 cent, from a loss per share of 0.83 cent a year ago.

Net asset value per share was 46.8 cents as at March 31, down from 54.2 cents as at Dec 31.


UOL

Property developer and hotel operator UOL posted a net profit of $77.1 million in the first quarter, up 4 per cent from the same period a year ago.

Revenue in the three months to March 31 was $330.1 million, up 39 per cent, as takings from property development more than doubled to $164.3 million, while hotel revenue rose 2 per cent to $104.9 million.

However, the share of profit of associated and joint venture companies fell 12 per cent from a year earlier to $34.1 million.

First-quarter earnings per share was 9.68 cents, up from 9.43 cents a year ago.

Net asset value per share was $9.95 as at March 31, up from $9.91 as at Dec 31.

A version of this article appeared in the print edition of The Straits Times on May 13, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe