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CapitaMalls 2Q profit falls 14% to RM114m
by Cals Sat 20 Jul 2013, 01:42
CapitaMalls 2Q profit falls 14% to RM114m
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 19 July 2013 19:26
KUALA LUMPUR (July 19): CapitaMalls Malaysia Trust's (CMMT) net profit for its second quarter ended June 30 (2QFY13) fell 13.95% to RM114.28 million from a year earlier.
The decline came as the retail-centric real estate investment trust (REIT) registered lower property revaluation gains.
In a filing with Bursa Malaysia, CMMT said its 2QFY13 net profit compares with the previous corresponding quarter’s RM132.82 million. Revenue, however, was higher at RM74.55 million versus RM71.38 million.
“The increase was mainly due to higher gross rental income on the back of higher rental rates achieved from new and renewed leases,” said CapitaMall.
During 2QFY13, CMMT registered a revaluation gain of RM77.9 million compared to RM98.38 million a year earlier.
CMMT's cumulative net profit for 1HFY13 fell to RM150.13 million from RM167.26 million in the previous corresponding period.
The REIT plans to make an income distribution of 4.35 sen per unit for 1HFY13. The payout comprises taxable and tax-exempt portions of 4.32 sen and 0.03 sen respectively.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 19 July 2013 19:26
KUALA LUMPUR (July 19): CapitaMalls Malaysia Trust's (CMMT) net profit for its second quarter ended June 30 (2QFY13) fell 13.95% to RM114.28 million from a year earlier.
The decline came as the retail-centric real estate investment trust (REIT) registered lower property revaluation gains.
In a filing with Bursa Malaysia, CMMT said its 2QFY13 net profit compares with the previous corresponding quarter’s RM132.82 million. Revenue, however, was higher at RM74.55 million versus RM71.38 million.
“The increase was mainly due to higher gross rental income on the back of higher rental rates achieved from new and renewed leases,” said CapitaMall.
During 2QFY13, CMMT registered a revaluation gain of RM77.9 million compared to RM98.38 million a year earlier.
CMMT's cumulative net profit for 1HFY13 fell to RM150.13 million from RM167.26 million in the previous corresponding period.
The REIT plans to make an income distribution of 4.35 sen per unit for 1HFY13. The payout comprises taxable and tax-exempt portions of 4.32 sen and 0.03 sen respectively.
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