Far East H-Trust posts 17.7% drop in Q1 DPS
Fall in international visitor arrivals, shrinking corporate travel budgets take their toll
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Singapore
AGAINST the backdrop of softening travel demand and smaller corporate budgets, Far East Hospitality Trust (H-Trust) posted a 17.7 per cent slide in distribution per stapled security (DPS) to 1.07 Singapore cents for the first quarter ended March 31, 2015.
Income available for distribution was 16.9 per cent lower at S$19.2 million for the quarter under review as net property income fell and as finance costs rose 19.4 per cent to about S$5 million, owing to a considerable rise in short-term interest rates compared to a year ago.
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