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.
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