On 27th April 2016, Far East Hospitality Trust announces its 1Q2016 financial results.
Gross revenue remains flat at S$27.4 million.
Net property income increase slightly by 0.8% from S$24.5 million to S$24.7 million.
A Distribution Per Unit (“DPU”) of 1.08 cents was declared which is a 0.9% increase as compared to 1.07 cents in 1Q2015.
The slight 1.9% increase in distribution amount was due to the slight increase in tourist arrivals in the first two months of the year.
|
1Q2016
(S$’000) |
1Q2015
(S$’000) |
YoY(%) |
| Gross Revenue |
27,365 |
27,365 |
0 |
| Net Property Income |
24,679 |
24,487 |
0.8 |
| Distributable Amount |
19,444 |
19,203 |
1.3 |
| Distribution Per Unit (“DPU”) (cents) |
1.08 |
1.07 |
0.9 |
Occupancy
Hotels
Singapore held the biennial Singapore Airshow earlier this year which provided some uplift. However, the hospitality sector still appears weak due to lack of corporate demand.
Revenue ......
