OUE H-Trust's DPS for Q2 up at 1.21 Singapore cents

HIGHER contributions from both the hospitality and retail segments lifted results for landlord OUE Hospitality Trust (OUE H-Trust) for its second quarter.

Distribution per stapled security grew to 1.21 Singapore cents from 0.92 Singapore cent in the previous year, the group said in a Singapore Exchange filing on Tuesday evening.

That came as second-quarter income available for distribution climbed 31.8 per cent to S$21.81 million from the preceding year.

For the three months ended June 30, gross revenue increased 16 per cent to S$31.16 million from the preceding year. Net property income increased 15 per cent to S$26.62 million from the previous year.

Its properties include Mandarin Orchard Singapore (MOS), Crowne Plaza Changi Airport (CPCA) and Mandarin Gallery. The expansion in gross revenue was due partly to higher master lease income, it said.

OUE H-Trust units finished half a cent or 0.7 per cent higher at S$0.76 on Tuesday.