KUALA LUMPUR: CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM) posted a higher pre-tax profit of RM179.814 million for the financial year ended December 31 2011 compared with RM109.396 million previously.
In a statement, the company said the better performance was attributable to revenue growth at the mall level and savings in financing costs.
CMRM's acquisitions last year of Gurney Plaza Extension and East Coast Mall contributed to earnings, it said.
The manager of CapitaMalls Malaysia Trust's (CMMT) said revenue rose to RM230.887 million from RM94.636 million in the same period a year earlier.
It said CMMT achieved a distribution per unit (DPU) of 7.87 sen during the year, 8.4 per cent higher than the annualised DPU of 7.26 sen previously.
CMMT recorded net property income (NPI) of RM162.4 million, 1.6 per cent higher than the forecast NPI of RM159.8 million.
The total distributable income was RM118.3 million, eight per cent higher than the forecast distributable income of RM109.5 million for the year, CMRM said.
By Bernama
Wednesday, January 25, 2012
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