A-HTrust's Q1 DPU rises 0.8%

Singapore

HOTEL owner Ascendas Hospitality Trust (A-HTrust) on Thursday posted a 0.8 per cent increase in its distribution per unit (DPU) to 1.29 Singapore cents for its first quarter ended June 30, 2016.

Gross revenue dipped 0.8 per cent to S$52.4 million, while net property income climbed 5.5 per cent to S$22.6 million. The revenue dip was mostly due to its divestment of a hotel, Pullman Cairns International, in June 2015. The trust said: "Excluding contribution from Cairns operations of S$1 million for Q1 FY15/16, current year's gross revenue would be an increase of S$0.6 million over last year. Overall underlying performance of the portfolio has improved S$1 million over last year in local currency terms but the increase was partly offset by adverse currency movements in the Australian dollar (AUD) and the renminbi."