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OUE H-Trust's Q3 DPS higher than forecast

Published Mon, Nov 3, 2014 · 09:50 PM

Singapore

OUE Hospitality Trust (OUE H-Trust) on Monday reported distribution per share of 1.64 Singapore cents in the third quarter, up 2.5 per cent from its forecast, on higher distributable income. Income available for distribution was stronger than expected for the three months ended September, as a result of higher net property income of S$25.4 million, which rose 1.6 per cent.

Mandarin Orchard Singapore recorded better revenue per available room (RevPAR) of S$252 for the third quarter, as compared to the forecast RevPAR of S$248. This was boosted by higher sales from the corporate business segment. With higher patronage, the hotel's food and beverage segment also saw a lift in sales that was stronger than expected. Its retail segment through Mandarin Gallery contributed to the higher-than-forecast sales due to higher income earned from "casual leasing activities". The mall charged an effective rent per square foot per month of S$23.90 in the third quarter.

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