Reported revenue over 506 million baht in the second quarter of its 2015 fiscal year.
IMPACT Growth REIT showed a strong performance amid the economic slowdown with a 52% occupancy rate in the second quarter of its 2015 fiscal year starting on April 1. It recorded 506.2 million baht revenue and 267.3 million baht net profit and is ready to pay interim dividend at 0.18 baht per unit, representing the dividend payout at 97% of the net profit. Its dividend yield since inception was 7.3%, exceeding the target of 6.6%.
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 continued to produce a good and healthy performance. During the July-September period, it posted a net profit of 267.3 million baht on revenue totaling 506.2 million baht and had a 53% net profit margin.
The company's board of directors approved an interim dividend payment on the second quarter performance of its 2015 fiscal year at 0.18 baht per unit or the dividend payout at 97% of total net profit. The total dividend payment will be 266.8 million baht and the payment to unitholders is due on Dec 14, 2015.
During the second quarter, IMPACT Growth REIT contributed service income of 500.3 million baht from providing of convention and exhibition space from 4 buildings which the highest revenue-generating and the space utilization building is IMPACT Exhibition Center Hall 1-8, which saw a 68% occupancy rate during the July-September period, up 20% year-on-year. This resulted in the occupancy rate for four buildings including IMPACT Exhibition Center, IMPACT Forum, IMPACT Arena and IMPACT Challenger stand at 52%, a 10% rise from the same period last year.
For the six-month period of its 2015 fiscal year, the REIT generated revenue at 1,004.5 million baht and posted a net profit of 533.4 million baht. The 2H'2015/2016 occupancy rate is 51%.
"IMPACT Growth REIT announced the fourth dividend payment since the trust fund establishment and its dividend payment to unitholders has been higher than its projection so far. The four dividend payment will total 0.775 baht per unit, representing the dividend yield at 7.3%, higher than the target of 6.6%. For the business in the second half during October, 2015-March 2016, it is expected that the occupancy rate will improve than the first half as there will be more events such as Baan Lae Suan Fair, the 32nd Motor Expo (Thailand International Motor Expo 2015), and Bangkok International Motor Show," Miss Wanphen said.