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Tuesday, January 8, 2008

Axis REIT pre-tax profit increases to RM68.6mil

KUALA LUMPUR: Axis Real Estate Investment Trust's (Axis REIT) pre-tax profit for the year ended Dec 31, 2007 increased to RM68.6mil from RM43.2mil the previous year.

Revenue increased to RM46.83mil from RM41mil previously.

In the fourth quarter, pre-tax profit rose to RM18.6mil from RM14.8mil in the previous corresponding quarter, while revenue rose to RM13.01mil from RM10.81mil previously.

In a statement, Axis REIT Managers Bhd (ARMB), the management company of Axis REIT, said the profit (income) in the fourth quarter was mainly from (unrealised) change in fair value of its investment properties of RM10.7mil.

“With the completion of three new properties in the fourth quarter, the total investment portfolio has grown to 14 properties compared with nine properties in 2006,” it said.

ARMB said Axis REIT has proposed an income distribution of RM15.5mil for the second half of 2007, which translated into a dividend per unit (DPU) of 7.53 sen. “Together with an interim distribution of RM12.56mil (6.1 sen per unit) in the first half of 2007, the total distribution for last year amounted to a DPU of 13.63 sen,” it said.

By Bernama

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