CDLHTrust – SGX
CDL HOSPITALITY TRUSTS REPORTS STRONG GROWTH IN FIRST SIX MONTHS OF FY2007
- Continuing strength in the hospitality market:
- Income available for distribution of S$27.1 million for 1H FY2007 equivalent to 40% growth against projections
- Cumulative distribution for the period 1 January 2007 to 18 July 2007 to Stapled
Security Holders as at 18 July 2007 of 4.37 Singapore cents
- • Q2 FY 2007 ARR1 of S$203 and occupancy1 of 84.9%
• 1H FY2007 RevPAR1 increasing 29.4% to S$163 from proforma 1H FY2006
CDL Hospitality Trusts (“CDLHT”), a stapled group comprising CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust, and CDL Hospitality Business Trust (“HBT”), a business trust, is pleased to report strong growth for the second quarter and first six months of the financial year ending 31 December 2007 (“FY2007”).
Gross revenue in the quarter ended 30 June 2007 grew by 47.9% over IPO projections. Income available for distribution amounted to S$14.8 million, representing an increase of 52.1% over projections for the quarter.
Gross revenue for the six months ended 30 June 2007 grew by 38.8% over IPO projections. Income available for distribution amounted to S$27.1 million, representing an increase of 39.9% over projected distribution of S$19.4 million for the period. Distribution Per Unit (“DPU”) for the period from 1 January 2007 to 30 June 2007 is 3.86 Singapore cents, an increase of 40.4% over the projected DPU over the same period.
Source : SGX