FHT's Q1 DPS gets a lift from Sofitel Sydney

Singapore

FRASERS Hospitality Trust (FHT) reported a distribution per stapled security (DPS) of 1.72 cents for the first quarter ended Dec 31, 2015, bolstered by full contribution from Sofitel Sydney Wentworth which was acquired in July 2015.

This represented a 7.5 per cent increase from an estimated DPS of 1.6 cents for the same period last year based on a pro-rata basis for comparative purpose. FHT had reported its financials for an actual 171-day period from July 14 to Dec 31, 2014.

FHT achieved an estimated 16.2 per cent growth in gross revenue to S$31.38 million and an estimated 16.9 per cent increase in net property income (NPI) to S$26.33 million for the fiscal first quarter, on the back of sterling performance by its Japan and Australian…