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NewsSunREIT 2Q profit up10.5% to RM62m, to distribute 2.23 sen/unit
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SunREIT 2Q profit up10.5% to RM62m, to distribute 2.23 sen/unit
by Cals Fri 24 Jan 2014, 19:30
| SunREIT 2Q profit up10.5% to RM62m, to distribute 2.23 sen/unit |
| Business & Markets 2014 |
| Written by Jonathan Gan at theedgemalaysia.com |
| Friday, 24 January 2014 18:40 |
KUALA LUMPUR (Jan 24): Sunway Real Estate Investment Trust’s net profit for the second quarter ended 31st December 2013 rose 10.53% to RM62.03 million from RM56.12 million registered in the same quarter a year ago.
Revenue for the quarter rose to RM110.31 million from RM105.82 in the previous corresponding quarter.
Cumulative profits for the six months was RM117.43 million, up from RM108.13 million previously. Cumulative revenue for the six months was RM210.49 million, up from RM205.59 million.
The company declared a dividend of 2.23 sen per share.
It attributed its profits mainly to the retail segment of the business.
“Net property income of the retail segment for 2Q 2014 was RM53.3 million, an increase of 2.6% or RM1.4 million compared to 2Q 2013, despite loss of income contribution from Sunway Putra Mall,” it said in its report to Bursa Malaysia.
On future prospects, the company expects its retail assets to register healthy growth in FY2014 for the retail malls under operation.
“The Manager expects the retail assets to register healthy growth in FY2014 for the retail malls under operation despite the recent rise in operating costs,” it said in the report.
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