PETALING JAYA: Axis Real Estate Investment Trust (Axis REIT) posted a 50% jump in net profit to RM36.46mil in the third quarter ended Sept 30, 2016, from RM24.39mil a year ago on the back of rental proceeds from newly acquired properties and rental revision.
In a filing with Bursa Malaysia yesterday, the firm said its revenue for the quarter rose to RM41.98mil from RM41.86mil a year ago.
Axis REIT announced its third interim income distribution of 2.05 sen a unit. Its shares closed higher at RM1.75 yesterday.
For the first nine months of the financial year ending Dec 31, 2016, Axis REIT posted a net profit of RM98.03mil, 23% higher than RM79.61mil last year.
Revenue for the period increased to RM124.97mil from RM123.81mil previously.
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As at Sept 30, Axis REIT had a total of RM2.19bil assets under review.
“Total expenditure for the period under review was RM57.91mil, of which RM20.42mil was attributable to property expenses and RM37.48mil to non-property expenses,” it said.
It added that the maintenance cost and capital expenditure up to Sept 30 was RM9.5mil for the enhancement of the properties of Axis REIT.
As at Sept 30, its earning per share stood at 8.9 sen and net asset per share at RM1.26.
