Frasers Hospitality Trust reports 1.56 cent DPU for Q3

FRASERS Hospitality Trust (FHT) reported a distribution per unit (DPU) of 1.56 Singapore cents for its third quarter ended June 30, 2015. This was 0.65 per cent higher than its forecast.

Compared to its forecast, gross revenue was 3 per cent lower at S$23.72 million, while net property income was 1.2 per cent lower at S$19.23 million. The distributable income of S$18.8 million was in line with its forecast.

Eu Chin Fen, chief executive officer of the Reit's manager, said: "Our properties in Japan, Australia and UK continued to outperform forecast due to strong occupancies and growth in revenue per available room despite unfavourable foreign exchange movements. These strong performances helped to balance our portfolio in weaker markets in Malaysia and Singapore. Moving forward, FHT will benefit from the contribution of our first acquisition of Sofitel Sydney Wentworth in the favourable Sydney hospitality market."