Ascendas Hospitality Trust posts 13% growth in Q3 DPS
The better performance is led by its portfolio of hotels in all markets except for Singapore
Singapore
ASCENDAS Hospitality Trust (A-H Trust) on Thursday posted a 13.1 per cent jump in distribution per stapled security (DPS) to 1.64 Singapore cents for the third quarter from 1.45 Singapore cents a year ago, on the back of better performance of its portfolio of hotels in all markets except for Singapore.
This was after deducting income retained for working capital purposes.
Stronger Australian dollar and Japanese yen helped boost gross revenue and net property income for the quarter.
Distributable income for the three months ended December 2016 grew 14.6 per cent to S$19.5 million, owing mainly to the higher net property income (NPI) and higher realised foreign exchang…
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