This brings FY19 DPS to 6.03 cents, 2.9% higher than 5.86 cents in FY18.
As at end-March, the trust has a portfolio of 14 hotels across Australia (6), Japan (5), Singapore (1) and South Korea (2), with about 4,700 rooms.
Gross revenue for the quarter declined by 1.4% to $49.0 million from $49.7 million last year, mainly due to lower contribution from the group’s other income, but was partially offset by higher gross rental revenue and food & beverage revenue.
The lower other income was due to lower contribution from Australia portfolio and unfavourable foreign exchange movement in AUD.
Property expenses dropped 5.8% to $26.2 million from $27.8 million a year ago.
Overall, net property income (NPI) for 4Q19 increased by 4.1% to $22.9 million, compared to $22.0 million in 4Q18.
Tan Juay Hiang, CEO of the managers says, “We believe that the hotels acquired in FY2018/19, which were all on master lease arrangement, and the diversity of the portfolio have continued to build up the resilience of the portfolio as a whole through added income stability and will benefit the trust as we move into the new financial year.”
Units in A-HTRUST closed at 92 cents on Thursday.
