APTT posts 2.4% rise in Q2 operating earnings

ASIAN Pay Television Trust (APTT) reported a 2.4 per cent year-on-year rise in operating earnings (Ebitda) to S$50.4 million for the second quarter ended June 30, driven by higher revenue across each of the service offerings of TBC, a leading provider of pay-TV and broadband services in Taiwan.

Its total revenue grew 4.4 per cent to S$82.7 million. The board has declared an ordinary distribution of two cents per unit for the quarter ended June 30, which will be paid out on Sept 25.

APTT is a business trust in Asia focused on pay-TV businesses. APTT has a mandate to invest in pay-TV and broadband businesses in Taiwan, Hong Kong, Japan and Singapore.

It said that the focus for this year continues to be 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.

"Overall, total revenue and EBITDA for the full year 2015 are anticipated to be higher than 2014 as initiatives to grow TBC's business are pursued," APTT said. "Distributions for 2015 are expected to be at least equal to 2014, at 8.25 cents per unit."