Bangkok--20 Feb--Make A Wealth Consulting
IMPACT Growth REIT announced its nine-month performance in 2016 with revenue totaling 1,515 million baht and net profit at 811 million baht. The trust is ready to pay its third dividend in 2016 at 0.17 baht per unit or the total of 252 million baht.
Miss Wanphen Mungpiensakul, Managing Director of RMI Co, Ltd. the REIT manager of IMPACT Growth Real Estate Investment Trust (IMPACT Growth REIT), said the trust showed total revenue of 1,515 million baht for the April-December period of 2016. Of the total, 1,508 million baht came from service income and the remaining 6.6 million baht from the others and interest income. Its revenue fell -4% when compare to the same period of the last year because the mourning period after Oct 13 so that entertainment events and exhibition events were postponed and cancelled. This made the occupancy rate during the nine-month period dropped to 49.8%.
For its expenses, the IMPACT Growth REIT continued to maintain its expense control at a good pace and this made the cost of service reduced by -12%, down from the same period of the year before. Meanwhile, its administration expenses were down by -5% from the same period of last year. This made its gross profit margin stood at 87% and net profit was 811 million baht, representing a net profit margin of 54%, in line with its 2016 target around 50-55%.
Miss Wanphen continued that the company's board approved to pay interim dividend to the trust's unitholders for the third time at 0.17 baht per unit, representing the dividend payout rate at 99%. The total dividend payment is 252 million baht with the closing of unitholder registration on February 28, 2017, and the payment on March 10, 2017. This is the third interim dividend payment for the 2016/17 fiscal year.
For the full 2016/17 fiscal year, IMPACT Growth REIT expected its revenue will decline by 7% from the previous fiscal year, which generated 2,126 million baht revenue, because some exhibition and entertainment events were postponed to organize in the 2017/18 fiscal year. The trust expected its total revenue will reach 2,049 million baht and the average occupancy rate will be higher than 50% with 10 new events. Total events to be held at its IMPACT Muang Thong Thani will be 1,000 for the whole year.