NEWS & PRESS RELEASES
YTL Hospitality REIT Records 1st Quarter Revenue of RM101.1 Million & Distributable Income of RM28.9 Million
Interim Distribution of 2.0528 Sen per Unit Declared
Kuala Lumpur, Thursday 17 November 2016 - YTL Hospitality REIT registered revenue of RM101.1 million for the 3 months ended 30 September 2016, an increase of 3.8% compared to RM97.4 million for the preceding corresponding quarter ended 30 September 2015, whilst net property income increased 7.5% to RM47.5 million this quarter over RM44.2 million for the same period last year.
Income available for distribution grew to RM28.9 million this quarter over RM27.2 million recorded in preceding year corresponding quarter, representing an increase of 6.3%, after adjustment for non-cash items.
The Group recorded a loss before tax of RM41.2 million for the current quarter under review, an improvement of 19.7% compared to a loss before tax of RM51.3 million for the same period last year. The improvement was due mainly to reduced foreign currency translation losses on an Australian Dollar denominated term loan.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 2.0528 sen per unit, the book closure and payment dates for which are 2 December 2016 and 23 December 2016, respectively. The total income distribution amounts to RM27.2 million, representing approximately 94% of the total distributable income for the financial quarter ended 30 September 2016.
Please view the Quarterly Report here.