Frasers Hospitality Trust Q2 DPS down 11.5%

FRASERS Hospitality Trust (FHT) posted an 11.5 per cent decrease in distribution per staple security to 0.98 Singapore cent from 1.11 Singapore cents in the previous year, the group said in a Singapore Exchange filing on Tuesday evening.

That came as Q2 income available for distribution fell 10.4 per cent to S$18.7 million from the previous year.

For the three months ended March 31, gross revenue sank 7.6 per cent to S$34.6 million from the preceding year. Net property income sank 9.1 per cent to S$25.2 million from the previous year.

The decrease in gross revenue and net property income was due mainly to the weaker performance of the Australia, Malaysia and Japan portfolios.

FHT is a stapled group comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust.

FHT units finished unchanged at S$0.765 on Tuesday, before the announcement.