Frasers Hospitality Trust's distributable income down 0.8% YoY despite higher NPI

NPI rose 5.5% YoY in H2 FY 2024.

Frasers Hospitality Trust's income available for distribution (DI) dropped 0.8% YoY to $25.0m in H2 FY2024 despite recording a higher net property income (NPI).

NPI for the period was $47.8m, up 5.5% YoY.

The business trust’s lower NPI stemmed from higher refinancing costs in a rising interest rate setting and bigger tax expenses.

Given the DI decline, the trust's distribution per stapled security (DPS) slipped 0.8% YoY to $0.011682.

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