CDL Hospitality Trusts Reports Unaudited Consolidated Earnings Results for Fourth Quarter and Year Ended December 31, 2017; Reports Goodwill Impairment Charges for the Fourth Quarter Ended December 31, 2017
For the year, the company reported revenue of SGD 204,315,000 compared to SGD 180,857,000 a year ago. The increase in revenue was mainly due to additional revenue of SGD 21.5 million generated from the acquisitions of The Lowry and Pullman Munich in May and July 2017 respectively, as well as the stellar performance from the New Zealand Hotel, which posted a year-on-year revenue growth of SGD 6.1 million or 46.3%. Net property income was SGD 151,760,000 compared to SGD 137,560,000 a year ago. Net income before fair value adjustment was SGD 88,155,000 compared to SGD 80,049,000 a year ago. Net income before tax was SGD 141,484,000 compared to SGD 50,346,000 a year ago. Total return attributable to unitholders was SGD 129,018,000 compared to SGD 49,332,000 a year ago. Total return was SGD 129,124,000 compared to SGD 49,332,000 a year ago. Diluted earnings per share were 11.59 cents compared to restated diluted EPS of 4.76 cents and reported diluted EPS of 4.95 cents a year ago. Net cash generated from operating activities was SGD 138,992,000 compared to SGD 133,471,000 a year ago. Capital expenditure on investment properties was SGD 14,113,000 compared to SGD 14,204,000 a year ago. Addition of property, plant and equipment was SGD 3,282,000 compared to SGD 3,994,000 a year ago.
For the fourth quarter ended December 31, 2017, the company's goodwill impairment was SGD 226,000.