CDLHT Q3 DPS falls 4.1% on lower income

Singapore

CDL Hospitality Trusts (CDLHT) on Wednesday posted a 4.1 per cent fall in distribution per stapled security (DPS) to 2.09 Singapore cents for the third quarter ended Sept 30, from 2.18 cents a year ago. This was attributable to a decline in net property income (NPI) and higher interest expense.

Total distribution to stapled securityholders, after retention for working capital, fell 3.6 per cent to S$25.4 million. Revenue slipped 1.8 per cent to S$49.1 million.

NPI retreated 1.5 per cent to S$35.7 million, as stronger performance from CDLHT's Singapore hotels was more than offset by lower contribution from the rest of its overseas properties, in pa…