Impact Growth REIT sees 16% income jump in last quarter
Impact Growth REIT on Monday reported total income of Bt696 million for the third quarter of fiscal 2018-2019 ending December 31, up 16 per cent from the same period last fiscal year.
REIT manager Wanphen Mungphienskul, who is also managing director of RMI Co Ltd, credited an increase in the occupancy rate stemming from international events such as the Miss Universe pageant and more concerts hiking the occupancy rate at Impact Arena to 73 per cent.
These factors and a hike in international conventions and meetings sent the Impact Challenger occupancy rate to 68 per cent in the third quarter, for an average occupancy rate in all areas of 57 per cent, up from 49 per cent in the same period last year.
Net profit margin was given as Bt412 million, 20 per cent above the same period last year.
For the first nine months of fiscal 2018/2019, the occupancy rate was 55 per cent – 2 per cent above the same period last year – with the Bt1.939 billion in total revenue representing a 10 per cent increase from last year.
Net profit was Bt1.108 billion, for a 57 per cent net profit margin.