SINGAPORE (Oct 31): OUE Hospitality Trust (OUE HT) reported higher revenue and net property income (NPI) in 3Q16 from a year ago but DPS fell 28.5% to 1.23 cents due to lower distribution income and an enlarged number of stapled securities following a rights issue in April.
In the 3Q16 to Sept, OUE HT reported a 2% bump in revenue to $33.3 million. Hospitality revenue was $1.5 million higher than a year ago but retail revenue fell $0.8 million mainly due to lower average occupancy rate at 89.0%.
NPI jumped 2.4% to $29.4 million driven by higher contribution from the enlarged Crowne Plaza Changi Airport.
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