RHT's Dpu For Q3 4.9% Higher Than Forecast (BT)
BY MINDY TAN TANMINDY@SPH.COM.SG
Source: Business Times, 19 February 2014
RELIGARE Health Trust's (RHT) distribution per unit (DPU) for the third quarter ended December was 2.14 cents, 4.9 per cent higher than its projection of 2.04 cents.
This translates into an annualised yield of 11 per cent, based on the closing price of 77.5 cents as at end-December.
Based on the total number of units, assuming no sponsor waiver, DPU was 1.54 cents, 4.7 per cent above the forecast of 1.47 cents.
For the quarter under review, income available for distribution was $12.2 million, 4.3 per cent more than the forecast $11.7 million disclosed in RHT's prospectus.
Net service and hospital income hit $15.8 million, falling short of the $16.5 million forecast. Total revenue for the third quarter was $26.9 million, 1.8 per cent below the projection of $27.4 million.
"We believe that the Indian healthcare sector continues to hold long-term prospects given the rising affluence of an increasing middle- and upper-class and greater demand for quality healthcare services.
India remains an attractive destination for medical tourism and we look forward to growing alongside the robust industry," said Gurpreet Dhillon, chief executive officer of RHT Trustee Manager.
"With our low gearing of 7.9 per cent as of 31 December 2013, we have ample debt headroom for further growth and opportunities," he added.
Religare shares closed half a cent lower at 76.5 cents yesterday, before the results were announced.