ASIAN Pay Television Trust on Tuesday reported a 21.6 per cent drop in profit after income tax attributable to unitholders to S$16.3 million for its fourth quarter ended Dec 31, 2014.
This was due to higher depreciation and amortisation expense (mainly due to additional depreciation on network equipment and amortisation of programming rights acquired during the quarter) as well as other operating expenses (on the back of higher marketing expenses and one-time fee of S$1.2 million to Deloitte Taiwan for services provided in settling a tax dispute).
Total revenue rose 4 per cent to S$81.8 million for the quarter.
The board of directors of the trustee-manager declared a final distribution of 2.13 Singapore cents per unit for the quarter. The books closure date will be on March 20; the distribution will be paid on March 27.
The total distributions of 8.25 cents per unit for 2014 is consistent with the distribution guidance set out in its prospectus, and the board re-affirmed a similar distribution guidance for FY2015 of at least 8.25 cents per unit.