OUE Hospitality Trust's Q4 DPU at 1.67 cents

OUE Hospitality Trust's distribution per unit (DPU) for the fourth quarter ended Dec 31, 2013, was 1.67 cents, which surpassed its forecast by 2.5 per cent, thanks to strong performance of its portfolio assets - Mandarin Orchard Singapore Hotel and Mandarin Gallery.

It reported a distribution income of $21.9 million for the financial period, beating its forecast by 2.3 per cent, on the back of higher net property income (NPI) and lower trust expenses. NPI was $25.5 million, exceeding its estimate by 0.6 per cent.

For the period from July 25 to Dec 31 since the trust's listing, the DPU achieved was 2.90 cents, which is 2.1 per cent higher than the forecast, as NPI of $44.8 million exceeded estimate by 1.4 per cent.