TLGF’s 2013/14 FY Results – strong income and profit growth Generates total return of 0.7629 baht/unit
Bangkok, 8 May 2014: Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) announced its income and net profit growth for Full Year 2013/2014. TLGF’s total income in 2013/2014 was 2,452,973,241 baht or a 35.7% increase year-on-year. The fund’s net investment income was 1,628,023,339 baht, an increase of 32.3% year-on-year. Also, the expansion of TLGF from 17 properties to 23 properties has contributed to its growth.
TLGF will pay dividend of the Q4 2013/2014 at 0.1851 baht/unit on 19 May 2014, and will pay capital reduction of the Q4 at 0.0160 baht/unit on 20 May 2014. The total return for FY 2013/2014, including capital reduction, will be 0.7629 baht/unit.
Chavinda Hanratanakool, CEO of Krung Thai Asset Management PCL (KTAM), TLGF fund manager, said, “TLGF had a strong performance for the year 2013/2014 thanks to effective fund management with growing portfolio of quality Tesco Lotus malls, plus efficient property management. TLGF’s good performance contributes to consistent and stable returns to unitholders.
Sompong Rungnirattisai, Property Director of Tesco Lotus said “The occupancy rate of TLGF’s 23 malls remained almost full at 99.32% in 2013/2014. We have also refreshed selected properties to draw more traffic, including Tesco Lotus Extra Phuket which is now ready to serve customers with better offers and new tenants, both famous local and international brands. Tesco Lotus Sri Nakarin refresh project will soon be completed and will be ready to provide great shopping experience for customers in June.
This year Tesco Lotus will continue to contribute to the growth of 23 high potential shopping malls with our expertise and experience in property management. We have plans for growth from efficient space management, great selection of tenants to serve customers’ demand and attractive sales promotions to draw customers. In addition, we have upcoming projects to refresh more malls for customers’ better shopping experience and best offer.
Since its establishment and flagship IPO in 2012, TLGF has invested in 23 Tesco Lotus hypermarket-anchored shopping malls in prime locations across Thailand. TLGF is one of the largest listed property funds in Thailand with a market capitalization of over 30 billion baht (information as of 30 April 2014).