Frasers Hospitality Trust (FHT) has posted a distribution per stapled security (DPS) of 0.179 cents for the 1HFY2021 ended March, representing a 45.5% drop y-o-y.

Gross revenue dropped 36.2% y-o-y to $39.9 million, as the business continues to be impacted by the Covid-19 situation. Consequently,  net property income (NPI) fell 40.9% y-o-y to $26.7 million.

Distributable income fell 72.7% y-o-y from  $31.6 million to $8.6 million for the period due to the lower NPI and the payment of management fees in cash.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook