SINGAPORE (Feb 7): RHT Health Trust has declared a distribution per unit of 1.25 cents for 3QFY17, a 30.9% decrease from the 1.81 cents declared in 2QFY17.
The lower distribution was due to the disposal of its 51% stake in Fortis Hospotel and the unfavourable foreign exchange rates at the time it entered into certain forward contracts. It had also paid a special dividend of 24.8 cents in October from the net proceeds of the disposal.
Group revenue for the quarter to December was 1.2% lower quarter -on-quarter (q-o-q) owing to the slowdown in its hospital business following the introduction of the demonetisation policy in India in November 2016.
Net service fee and hospital income rose 1.4% q-o-q to $12.8 million, because there were no one-off expenses recorded in the current quarter and the results were boosted by a favourable IDR exchange rate.
Occupancy for the quarter was at 95% and average revenue per occupied bed was IDR 14.17 million ($1,498).
Gurpreet Dhillon, Chief Executive Officer of RHT’s trustee manager said that competition in India for the acquisition of new healthcare assets is expected to remain intense and added that the trust will remain focused on growing organically through its greenfield developments and the expansion and upgrading of its existing assets.
Shares in RHT Health Trust closed at 92.5 cents on Monday.
