YTL Hospitality REIT Registers 9-Month Revenue of RM323 Million
Distributable Income Stands at RM75 Million
Interim Distribution of 1.8616 Sen per Unit Declared
Kuala Lumpur, Thursday 21 May 2015 - YTL Hospitality REIT registered revenue of RM323.4 million and net property income of RM159.2 million for the 9 months ended 31 March 2015, changing marginally from RM324.6 million and RM157.7 million, respectively, for the preceding year corresponding period ended 31 March 2014.
Profit before tax decreased by 15.0% to RM39.8 million for the 9 months ended 31 March 2015 compared to the adjusted profit before taxation for the preceding year corresponding period of RM46.8 million (after adjustment for depreciation charges on the Trust’s Australian assets), mainly due to the increase in interest expense arising from the interest rate hike in July 2014 and foreign exchange losses due to the weakening of the Australian and Japanese currencies against the Ringgit.
As a result, income available for distribution stood at RM74.8 million for the 9 months ended 31 March 2015 compared to RM86.4 million for the same period last year, a decrease of 13.4% 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 1.8616 sen per unit, the book closure and payment dates for which are 5 June 2015 and 26 June 2015, respectively. The Trust’s total cumulative income distribution paid and declared for the 9 months ended 31 March 2015 is 5.6488 sen per unit, amounting to RM74.8 million, representing approximately 100% of the total distributable income for the 9 months to date.
Please view the Quarterly Report here.