KUALA LUMPUR: Prolintas Infra Business Trust (Prolintas Infra BT), which declared a RM35mil distribution for the first half of 2024 (1H24), is on track to meet its RM70mil distribution target for the financial year ending December 31, 2024 (FY24).
Prolintas Infra BT has announced its first interim distribution for 1H24, with 3.18 sen per unit, totalling RM35mil, to be distributed to unitholders.
The distribution will be payable on Sept 18 to those registered in the record of depositors as of Sept 3, 2024.
"We are pleased to announce our first milestone interim distribution for FY24. Our strong financial performance is a testament to the stability and resilience of our highway concession business, and we are dedicated to maintaining this momentum for the benefit of our unitholders,” the trust said in a statement.
“We remain on track to achieve our FY24 target of RM70mil in total distribution. This achievement exemplifies our strong financial management and focus on creating long-term value. We remain confident in our ability to deliver consistent growth and are optimistic about our future performance,” it added.
In the second quarter ended June 30, Prolintas Infra BT posted a lower net profit of RM4.03mil compared with RM14.6mil in the same corresponding quarter last year.
Revenue for the quarter surged to RM79.3mil against RM34.3mil last year, driven by an increase in traffic volume, with toll collection continuing to be the key revenue driver.
The Trust recorded a total toll collection of RM77.2mil, with additional non-toll revenue streams contributing RM0.4mil.
Its highway assets performed steadily in 2Q24, with Sistem Lingkaran-Lebuhraya Kajang (SILK) contributing the most or 45% of the total toll collection (RM34.7mil), followed by Guthrie Corridor Expressway (GCE) at 30% (RM22.8mil).
It said the consistent performance of these two longest highways, which cover a wide range of residential areas with four and three toll plazas respectively, has resulted in collection increases of 2.6% and 3.8% as compared to 1Q24.
Lebuhraya Kemuning–Shah Alam (LKSA) contributed 14% (RM10.8mil), whereas the Ampang–Kuala Lumpur Elevated Highway (AKLEH) accounted for 11% (RM8.9mil).
Prolintas Infra BT reported a profit from operations of RM46.5mil in 2Q24, 12% higher compared with the preceding quarter.
In the first half, it posted a net profit of RM6.12mil on revenue of RM155.8mil.
