IMPACT Growth REIT showed 25% Net Profit growth with 0.19 baht dividend payment. Expected 1H’s occupancy rate at 55%, higher than last year.

Tuesday 15 August 2017 15:51
IMPACT Growth REIT has announced the 1Q'2017/2018 performance with the total revenue of 564.15 million baht with net profit of 316.59 million baht or 25% growth from the same period of last year. Dividend will be paid at the rate of 0.19 baht per unit. For outlook of 2Q'2017/2018, the events booking still grow, inspite the economic sluggish. Thus the Trust expected first half occupancy rate would be 55% which higher than last year which was at 51%.

Miss Wanphen Mungpiensakul, Managing Director, RMI Co., Ltd as the REIT Manager of IMPACT Growth REIT said that the performance of 1'2017/2018 ended 30 June 2017 has showed the Trust's total revenue of 564.15 million baht or increased 16% from the same period of last year as the increasing of occupancy rate from Trade Exhibition events such as new event and existing event that increase exhibition space rental area; THAIFEX - World of Food Asia. Also the increasing number of concerst from 3 concerts this quarter last year to 7 concerts in this quarter and there was an internation convention so that boosted the occupancy rate in this quarter to 52% which higher from the same period of last year which was at 46%. For net profit, the Trust has reported 316.59 million baht or increased from last year 25% as the Trust could reducded the administrative expenses -14% and Finance cost -6%.

Furthermore, the Company's board of directors approved the interim dividend payment for the 1Q'2017/2018 performance at the rate of 0.19 baht per unit with the record date of unitholder registration on August 24, 2017, and the payment date on September 7, 2017. This is the 1st interim dividend payment for the 2017/18 fiscal year.

For the 2Q'2017/18 Trust's outlook, the expected occupancy rate will continue to grow better than last year as the booking for exhibition space rental area in this period would be around 59% which it is higher than the same period of last year which was at 56%. Most come from the increasing of space rental area such as Big Bad Wolf Book Sale Bangkok 2017 that increase number of show days from 12 days to 18 days. For the first half occupancy rate of this fiscal year would be 55% which higher from the same period of last year which was at 51%

"Even with the economic sluggish, in the business management , it requires marketing program to boost the revenue via the trade show thus the exhibition space rental area of the Trust has recovered to the normal level that it used to be. The Trust's strength is that we have repeat events in every year, so that we expected that the occupancy rate for 2017/2017 fiscal year woud not be lower than 50%" Miss Wanphen said.