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Frasers Hospitality Trust's DPS rises 49.3% YoY in FY23
Gross revenue and NPI also improved during the period.
Fraser’s Hospitality Trust posted a distribution per stapled security (DPS) of $0.024426 in FY2023, reflecting a 49.3% YoY increase.
In the same year, FHT recorded higher gross revenue of $123.2m (+28.5% YoY) and higher net property income (NPI) of $90.5m (30.1%).
The REIT's income available for distribution (DI) for FY23 also increased, jumping by 49.4% to $52.3m.
The REIT attributed its improved financial performance to the continuous recovery in global tourism, growing events, and MICE (meetings, incentives, conferences and exhibitions) segments in various cities.
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