Bangkok--20 Aug--Make A Wealth Consulting
The IMPACT Growth REIT’s first-quarter performance met an expectation of investors with revenue totaling 498 million baht and net profit of 266 million baht. The profit margin was 53.4% and the interim dividends will be paid at 0.175 baht per unit on Sept 10.
Ms Wanpen Mungpiensakul, managing director of RMI Co, ltd., the REIT's manager, said IMPACT Growth REIT will pay interim dividends on the quarterly performance during April-June 2015 at 0.175 baht per unit or 95% of net profit. The dividend payment will total 259 million baht. The recorded date of unit holders will be on Aug 27 for dividend payment due on Sept 10, 2015.
“We have prepared our plan to deal with the economic slowdown and the low season. The team of property managers has revised its strategy to deal with all aspects by penetrating new customer groups wishing to hold meetings and seminars, resulted in the revenue from F&B right fee and Media right fee are higher than budget. Moreover, the team has put effort to reduce expenses, so this quarterly performance met the target,” Ms Wanpen said.
The RMI’s managing director is confident in the growth potential of IMPACT Growth REIT in long term as it has ability to accommodate more events in the future. It will get a boost from the opening of Venus 1-4 meeting rooms and the expansion of exhibition space at IMPACT Exhibition Center due to be completed by the end of this year. Besides, the government’s accelerated disbursement of fiscal budget and the implementation of policies to drive the economy will also encourage rising demand for meetings and seminars as well as exhibitions and fairs.
“Now, small events may effect from the slowing economy as some of them have ask to reduce space but this is just only 1-2% of the total events. Big-scale consumer fairs have confirmed to hold at the same scale as planned. In the next quarter, we will have three new events including Homework Expo, RetailEx ASEAN 2015 and Thailand International Truck Show 15. This will help drive the performance in the next quarter in the same positive direction as in this quarter”.