Fht Reports Lower Dps 1Hfy2025

Frasers Hospitality Trust reported a distribution of 1.0257 cents per stapled security for its 1HFY2025 ended March 31, a 6% decrease from the previous year. While the gross revenue for the same period increased by 0.9% to $63.8 million, the net property income declined by 2.5% to $43.5 million due to the absence of one-off income adjustments in the year-earlier period, as well as costs ranging from taxes to utilities to financing.FHT’s CEO, Eric Gan, acknowledged the persistent cost pressures and challenging market environment, but noted that the performances across the portfolio have remained relatively stable. “Our priorities remain focused on prudent capital management, operational efficiency, and sustainability as we navigate through the ongoing macroeconomic uncertainties and geopolitical tensions and position ourselves for the gradual recovery in global tourism,” he said.As of March 31, FHT’s gearing stood at 34.8%, with a weighted average debt maturity of 2.7 years. The effective cost of borrowing increased from 3.4% in March 31, 2024 to 3.6% in March 31, 2025 due to refinancing at higher interest rates. FHT is currently in advanced discussions with lenders to refinance maturing borrowings and secure additional credit facilities.FHT’s interest coverage ratio was 3.0 times, with 72.8% of total borrowings on fixed rates. The net asset value per stapled security was 64.16 cents, which is slightly lower than its closing price of 65 cents on May 5, 2025, despite a 14% year-to-date increase.On April 23, FHT announced a review to explore options and ensure alignment between the interests of its sponsor and stapled security holders. The managers are still considering various options, and there is no certainty or assurance that any transaction will arise. They may decide to continue with FHT’s existing business strategy, according to FHT. In 2022, FHT reported a 22.4% increase in distribution per stapled security to 1.6355 cents.

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