Frasers Hospitality Trust's 2Q DPS falls 7.8% to 1.1126 S'pore cents on weaker portfolio performance overseas

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SINGAPORE (April 26): The managers of Frasers Hospitality Trust (FHT) have declared a distribution per stapled security (DPS) of 1.1126 Singapore cents for the second quarter ended Mar 2018, down 7.8% from its DPS of 1.2063 Singapore cents a year ago on weaker overall portfolio performance, save for its Japan and Singapore properties.

The latest quarter’s results brings FHT’s DPS for 2H18 to 2.4233 Singapore cents, which is 4.3% lower than its half-year DPS of 2.5321 Singapore cents previously.

Gross revenue for 2Q18 came in at S$37.5 million, down 3.1% from S$38.7 million a year ago mainly as the Australia portfolio turned in weaker performance due to a more competitive trading environment in Sydney, as well as Novotel Sydney Darling Square’s renovation which was completed in end Jan 2018... (Click here to read the full story)