Far East H-Trust posts 17.7% drop in Q1 DPS
Fall in international visitor arrivals, shrinking corporate travel budgets take their toll
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
JPMorgan promotes about 150 in Asia, EMEA to managing director
Brokers’ take: Analysts upgrade iFast’s rating on higher growth expectations
Stellantis misses forecasts with 12% revenue drop in Q1, sees stronger H2
L'Occitane's billionaire owner Geiger to take firm private in US$1.8 billion deal
Australian budget airline Bonza collapses, passengers stranded
HSBC CEO to retire; bank reports 1.7% lower Q1 profit of US$10.8 billion