YTL Hospitality REIT Records 1st Quarter Revenue of RM97.4 Million & Distributable Income of RM27.2 Million
Interim Distribution of 1.9175 Sen per Unit Declared
Kuala Lumpur, 26 November 2015 - YTL Hospitality REIT registered revenue of RM97.4 million for the 3 months ended 30 September 2015, decreasing by 4.8% compared to RM102.3 million for the same period last year. The Group recorded a loss before tax of RM51.3 million for the current quarter under review compared to profit before tax of RM8.6 million for the preceding year corresponding quarter ended 30 September 2014. The decrease was due to an unrealised foreign currency translation loss of RM55.6 million on an Australian Dollar denominated term loan. However, adjusting for this unrealised foreign exchange translation loss, the Group recorded profit before tax of RM4.3 million for the quarter under review.
Income available for distribution increased to RM27.2 million this quarter over RM26.4 million recorded in preceding year corresponding quarter, representing an increase of 3.2%, 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 December 2015 and 30 December 2015, respectively. The total income distribution amounts to RM25.4 million, representing approximately 93% of the total distributable income for the financial period ended 30 September 2015.
Please view the Quarterly Report here.