Frasers Hospitality Trust DPS up 7.2% in Q4

The higher takings were boosted by the additions of Novotel Melbourne on Collins and Maritim Hotel Dresden.
The higher takings were boosted by the additions of Novotel Melbourne on Collins and Maritim Hotel Dresden.PHOTO: FRASERS HOSPITALITY TRUST

SINGAPORE - Frasers Hospitality Trust (FHT) has posted a distribution per stapled security (DPS) of 1.2763 Singapore cents in the fourth quarter, up 7.2 per cent from 1.1903 Singapore cents a year earlier.

Distribution income in the three months ended Sept 30 rose 8.5 per cent to S$23.8 million, while net property income rose 9.8 per cent to S$31.5 million.

The higher takings were boosted by the additions of Novotel Melbourne on Collins and Maritim Hotel Dresden. All country portfolios, except for Singapore and Japan, also reported better performance.

Earnings per stapled security was 5.7 Singapore cents, up from 1.9 Singapore cents a year earlier. Net asset value per stapled security was 81.59 Singapore cents as at Sept 30, down from 82.9 Singapore cents a year ago.

Net property income rose 15.3 per cent to S$120.2 million in the full year while DPS fell 3.5 per cent to 5.0458 Singapore cents.

The counter closed down half a cent or 0.64 per cent to S$77.5 cents on Friday before the results were announced.