CDL Hospitality Trusts posts strong Q2 results; DPS down
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Singapore
A STELLAR performance of Grand Millennium Auckland and an inorganic contribution from The Lowry Hotel in Manchester, UK boosted CDL Hospitality Trusts' (CDLHT) results for its second quarter ended June 30, 2017.
Distribution per stapled security (DPS) for Q2 was 2.08 Singapore cents, down 3.7 per cent from the year-ago period's 2.16 Singapore cents. The group said this was due to its recent launch of a rights issue, where the new stapled securities will be listed on Aug 2. Gross revenue for Q2 was S$47.84 million, up 12.7 per cent year on year.
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