Ascendas Hospitality Trust earns more in Q2 but distribution is flat
Singapore
A HIGHER contribution from a hotel in Japan and the strengthening of the Japanese yen against the Singapore dollar gave a boost to second-quarter earnings of hotel landlord Ascendas Hospitality Trust (A-H Trust), which late last month said it was no longer in the market for a buyer after turning down several suitors.
But its expanded net property income was offset partly by lower realised exchange gains on income hedges, and income available for distribution in Q2 ended up roughly flat compared with the previous year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Air China to buy 100 locally made C919 jets in US$11 billion deal
HCA beats first-quarter profit estimates on higher patient admissions
F&B operator YKGI to exclusively operate Chicha San Chen in Macau for next eight years
LMIRT Q1 net property income dips 3.1% to S$30 million on higher expenses
Exxon misses on Q1 profit despite big gains in Guyana
US FDA approves Pfizer’s gene therapy for rare bleeding disorder