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OUE H-Trust Q2 DPS falls 9.4% on softer revenue, higher interest expense
Lower payout is mainly due to lower income from the hospitality segment
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Published Tue, Aug 6, 2019 · 09:50 PM
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Singapore
OUE Hospitality Trust's (OUE H-Trust) distribution per stapled security (DPS) fell 9.4 per cent to 1.06 Singapore cents for the second quarter ended June 30, weighed down by lower revenue as well as higher interest expense.
Gross revenue fell 4.4 per cent to S$29.38 million as both the hospitality and retail segments recorded weaker revenue, while net property income (NPI) was 4.5 per cent lower at S$25.31 million. Distributable income clocked in at S$19.44 million, sliding 8.6 per cent.
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