YTL Hospitality REIT Registers Half-Year Revenue of RM215 Million & Distributable Income of RM53 Million
Interim Distribution of 1.9175 Sen per Unit Declared
Kuala Lumpur, 25 February 2016 - YTL Hospitality REIT registered revenue of RM214.5 million for the 6 months ended 31 December 2015, approximating the preceding year corresponding period’s revenue of RM215.5 million, whilst net property income decreased to RM99.7 million for the 6 months ended 31 December 2015 compared to RM104.8 million for the same period last year.
The Group recorded a loss before tax of RM51.9 million for the half-year under review, compared to profit before tax of RM26.5 million for the same period last year. The decrease in profit before tax in the current financial period was due to an unrealised foreign currency translation loss relating to an Australian Dollar denominated loan and initial recognition of a fair value loss on interest rate swaps.
However, income available for distribution increased to RM52.8 million for the 6 months ended 31 December 2015 compared to RM51.1 million for the same period last year, an increase of 3.3% after adjustment for non-cash items.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9175 sen per unit, the book closure and payment dates for which are 11 March 2016 and 31 March 2016, respectively. The Trust’s income distribution for the quarter under review amounts to RM25.4 million, whilst the total cumulative income distribution paid and declared for the half-year ended 31 December 2015 is 3.8350 sen per unit, amounting to RM50.8 million, representing approximately 96% of the total distributable income.
Please view the Quarterly Report here.