NEWS & PRESS RELEASES
YTL Hospitality REIT Registers 9-Month Revenue of RM325 Million & Distributable Income Increases to RM79 Million
Interim Distribution of 1.9175 Sen per Unit Declared
Kuala Lumpur, 26 May 2016 - YTL Hospitality REIT registered revenue of RM325.1 million for the 9 months ended 31 March 2016, increasing by 0.5% compared to RM323.4 million for the preceding year corresponding period ended 31 March 2015. Net property income decreased to RM151.6 million for the 9 months under review compared to RM159.2 million for the same period last year, resulting mainly from lower contribution by the Brisbane Marriott.
The Group recorded a loss before tax of RM0.4 million for the 9 months under review, compared to profit before tax of RM39.8 million for the same period last year, mainly due to an unrealised foreign currency translation loss of RM24.8 million relating to an Australian Dollar denominated loan. An increase in depreciation charges and finance costs during the current financial period also contributed to the decrease. However, income available for distribution increased to RM78.7 million for the 9 months ended 31 March 2016 compared to RM74.8 million for the same period last year, an increase of 5.2% 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 10 June 2016 and 30 June 2016, respectively. The Trust’s income distribution for the quarter under review amounts to RM25.4 million, whilst the total cumulative income distribution paid and declared for the 9 months ended 31 March 2016 is 5.7525 sen per unit, amounting to RM76.2 million, representing approximately 97% of total distributable income.
Please view the Quarterly Report here.