Impact Growth REIT reports Q1 growth

The profit margin was 53.4 per cent, and interim dividends will be paid at Bt0.175 per unit – on 95 per cent of net profit – on September 10, said Wanpen Mungpiensakul, managing director of RMI Co, manager of the real-estate investment trust. 

The dividend payment will total Bt259 million. The recorded date of unit holders will be August 27 for the payment due on September 10.

“We have prepared our plan to deal with the economic slowdown and the low season,” she said. “The team of property managers has revised its strategy to deal with all aspects by penetrating new customer groups wishing to hold meetings and seminars, resulting in the revenue from fees for food and beverage and media rights coming in higher than budget. 

“Moreover, the team has made an effort to reduce expenses, so the quarterly performance met the target.” 

She said she was confident in the long-term growth potential of the REIT as Impact Exhibition Centre had the ability to accommodate more events in the future. It will get a boost from the opening of new meeting rooms and the expansion of exhibition space due to be completed by the end of this year. 

RMI also believes that the government’s accelerated disbursement of its fiscal budget and the implementation of policies to drive the economy will encourage rising demand for meetings and seminars as well as exhibitions and fairs. “Small events may be affected by the slow economy, as some of them have asked to reduce their space, but this is only 1-2 per cent of the total events,” Wanpen said. “Big-scale consumer fairs have confirmed they will go ahead at the same scale as planned.