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Asia Pay Television Trust declares 2 cent DPU for Q1

ASIA Pay Television Trust on Tuesday posted a net loss of S$5.56 million for its first quarter ended March 31, 2015, compared to a net profit of S$17.89 million in the year-ago period, as capital expenditure grew, due mainly to the continuation of its main asset Taiwan Broadband Communications' (TBC) deployment of digital set-top boxes and network expansion into the Greater Taichung region of Taiwan.

Revenue for the quarter was 6.6 per cent higher at S$82.29 million due to higher turnover generated across each of TBC's service offerings, with the main contribution coming from a 6.8 per cent increase in basic cable television revenue to S$65.8 million.

The focus in 2015 remains on driving growth in cash flows through up-selling and cross-selling of services across TBC's subscriber base and progressing the network and operational expansion in the Greater Taichung region. In addition, inorganic growth initiatives will be pursued in a selective manner, the group said on Tuesday.

Overall, total revenue and Ebitda (earnings before interest, tax, depreciation and amortisation) for the full year 2015 are anticipated to be higher than 2014 as initiatives to grow TBC's business are pursued, the trust added.

Loss per unit for Q1 2015 was 0.39 cent, while net asset value per unit was 90 cents.

A distribution per unit of two cents was declared for the quarter.

On Monday, Asia Pay TV Trust's counter had closed trading at S$0.895.