SINGAPORE - Mainboard-listed Asia Pay Television Trust announced on Tuesday a net loss of $5.56 million for its first quarter ended March 31, 2015, compared to a net profit of $17.89 million in the year-ago period.
This came about as capital expenditure grew largely due 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 on higher turnover across each of TBC's service offerings.
Looking ahead, the trust said the focus this year 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, it said.
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 2 cents was declared for the quarter. The books closure date will be on June 19, 2015, and the distribution will be paid on June 26.
The company also re-affirmed distribution guidance for the year ending December 31, 2015, saying distributions are expected to be at least equal to 2014, at 8.25 cents per unit. It is anticipated that the distribution will be paid in instalments of 2.00 cents per unit for the first, second and third quarters of 2015 and at least 2.25 cents per unit for the fourth and final quarter, it added.