Accordia Golf Trust warns of ‘significant loss’ for fiscal year

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Accordia Golf Trust warned Friday it expected to report a “significant loss” for the full fiscal year ended 31 March, mainly on the impairment of some golf courses and goodwill.

“The impairment is non-cash and would not impact distributable income to unitholders of AGT,” the trust said in a filing to SGX after the market close.

“Despite the accounting loss, AGT continues to generate positive operating cash flows and distributable income to unitholders,” it added.

Accordia Golf Trust said it would report its fiscal fourth quarter and full-year results after the market close on 28 May.

In a separate filing to SGX, the trust said it had 520,840 players in April, down 0.6 percent on-year, while the utilization rate was 83.4 percent, up 0.2 percentage point on-year.

The trust has 89 golf courses, as well as related assets, in Japan, the filing said.


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