Ascendas Hospitality Trust Q2 DPS up 2.8%
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ASCENDAS Hospitality Trust on Wednesday posted a 2.8 per cent rise in distribution per stapled security (DPS) for the second quarter ended Sept 30. DPS expanded to 1.46 Singapore cents from 1.42 cents.
Q2 income available for distribution, less the income retained for working capital, edged up 3 per cent from a year ago to S$16.6 million. The increase came on the back of savings in net finance costs and partial distribution of the proceeds from the divestment of two hotels in Beijing.
Gross revenue and net property income took a dip due to lower contribution from the Australian portfolio and absence of earnings from the China portfolio, exacerbated by the 6.8 per cent depreciation of the Australian dollar against the Singapore dollar.
