A-HTrust Q2 distribution per unit: 1.41 cents

HIGHER-THAN-EXPECTED taxes caused second quarter distributable income at Ascendas Hospitality Trust (A-HTrust) to fall below its initial public offering (IPO) forecast.

For the three-months ended Sept 30, 2013, income available for distribution at the stapled group was $14.6 million, 2.1 per cent below the $14.9 million it had projected.Distribution per stapled security (DPS) for the quarter was 1.41 cents.

The topline at A-HTrust came in at $53.1 million, 10.1 per cent lower than its IPO forecast, mainly because of weaker demand at its Australia and China hotels.