UOA REIT Q2 net profit soars

PETALING JAYA: UOA Real Estate Investment Trust’s second-quarter ended June 30 net profit jumped 24.79% to RM7.55mil while revenue rose 3.16% to RM11.28mil from a year ago on improved gross rental in the first half of the year.

The trust told Bursa Malaysia yesterday that gross rental had improved by 12.11% or RM2.44mil in the first six months over the same period last year, attributed mostly to improvements in rental rates.

Operating expenses had decreased 12.04% from the same period last year while net profit for the six months to June 30 was up 29.81% to RM15.05mil compared with the previous corresponding period on revenue of RM22.74mil.

In a separate filing, the company said it was making an interim income distribution of 5.82 sen for the second quarter.

By The Star